August 15, 2022
KCNA Ministry of Foreign Affairs (EN)

Sanctions against Russia Boomeranged

Date: 02/08/2022 | Source: Ministry of Foreign Affairs (EN) | Read original version at source

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The U.S. and the West have now become talk of the international society as they had to pay dearly for frenzied sanctions campaign they had mounted against Russia when the Ukrainian situation broke out.

A few days ago, British newspaper “The Times” carried an article saying that the West did its best to place Putin in a dilemma by means of sanctions, but these sanctions only had a boomerang effect, instead of inflicting damage on Moscow as expected.

The newspaper reported that inflation increased rapidly due to hike in oil price in the U.K. and the EU countries, and that residents are only shedding tears as they read the meter running at fuel stations.

The voices of questioning the effectiveness of sanctions are also raised in the U.S., the mastermind behind the sanctions against Russia.

Experts from media and academic circles come forward one after another to lament that the history of sanctions is only a disappointing one when they look back upon the past. Meanwhile, some high-ranking figures of the political circle put pressure on the Biden administration to stop squandering tens of billions of dollars on the conflict in a remote country, fearing that munitions supply to Ukraine would empty the U.S. magazine.

As the Western media comments, the Russian economy, rather than being shaken to its roots as expected by sanctions fanatics, is standing firm against sanctions; trade is in the black and exchange rate of ruble is stabilized.

Nowadays in European countries, gas price skyrocketed from € 250 to € 1,700 per 1,000㎥. This resulted in great confusion in the livelihood of inhabitants and the production activities in major fields such as electricity, metallurgy, chemistry, and foodstuff industry, further compounding social apprehension.

To cope with the financial sanctions by the U.S. and the West, Russia demanded that European countries pay the price for Russian gas in rubles and cut off gas supplies to the countries which refused to do so. Thus, the West could not but ponder on their sanctions measures.

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