‘The Kremlin thinks Russia’s threshold for economic pain is higher than the west’s, and it is probably right about that.’ Vladimir Putin in Moscow on Wednesday. Photograph: Mikhail Metzel/AP
Larry Elliott, The Guardian: Russia is winning the economic war - and Putin is no closer to withdrawing troops
The perverse effects of sanctions means rising fuel and food costs for the rest of the world – and fears are growing of a humanitarian catastrophe. Sooner or later, a deal must be made
It is now three months since the west launched its economic war against Russia, and it is not going according to plan. On the contrary, things are going very badly indeed.
Sanctions were imposed on Vladimir Putin not because they were considered the best option, but because they were better than the other two available courses of action: doing nothing or getting involved militarily.
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WNU Editor: Larry Elliot's above analysis is spot on. Economic reality suggests only one thing: sooner or later a Russia - Ukraine deal to end the war will be struck.
Unfortunately, the leaders in the West are still hoping that the situation will change, and they will continue their military and economic campaign against Russia.
My prediction. Unless there is a rethink of war strategy by the West, it will be Putin dictating terms in the end.
Needless to say the above Guardian opinion post is my must read post for tonight.
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