RNZ’s “The Detail” asked are New Zealand’s sanctions against Russia working? They aren’t, but one detail we learnt that MFAT has 100 staff members assigned to sorting out their complications!!
Our sanctions are minor pinpricks and will have absolutely no impact on Russia. Their full impact will be much greater here, and may not be evident for some time to come.
Biden talked tough at the start of Russia’ incursion, including New Zealand in the group of countries imposing sanctions, which were by no means a majority of those in the world as shown by the map in my previous post. The tone has now changed markedly as the blow-back effects of high fuel and food costs and supply issues fuel inflation in the sanctioning countries. The worst effects will be felt in Europe, heavily dependent on cheap natural gas from Russia. Biden’s boasted unity there is fraying.
Autarchic Russia clearly anticipated these sanctions which have not had their desired effects of crashing their economy. Instead it is the US that looks more likely to crash under the weight of financialised debt, and Europe to suffer through a cold winter.
The law of unintended consequences is once again vindicated. We could instead have been calling for a stop to the war with some credibility.
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