In response to Russia’s attack on Ukraine, US President Joe Biden vowed to isolate and “cripple” the Russian economy. However, Moscow has been able to maintain its economic strength, in part by exporting over $1 billion per month in wood, metals, food and other goods to the US.
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More than 3,600 ships from Russia have arrived at US ports since February 24, according to statistics cited by the Associated Press. While that is nearly half of the shipments over the same period compared to last year, it still amounts to over $6 billion in imports.
The number of Russian products entering US ports suggests Biden is falling short of his pledge to isolate Moscow’s economy. Due to so-called “wind down” periods that allow companies to complete previous deals, some of the goods continue to enter the country long after the White House announced sanctions on those products, including oil and gas. Paradoxically, other Russian imports, such as fertilizer, came at the request of the Biden administration, which has urged American companies to make up for shortages.
And while the White House has seized several luxury yachts owned by rich Russians with loose ties to Russian President Vladimir Putin, the AP found that American and European firms are importing millions of dollars in metal from a Russian company that makes parts for Moscow’s fighter jets, highlighting another odd discrepancy in Biden’s sanctions campaign.
Despite diplomatic pressure from Washington, other American allies are increasing their economic ties with Russia. Turkey – a NATO member – has doubled its imports of Russian oil this year.
During Biden’s presidency, he has taken several steps to strengthen ties with New Delhi, with American troops currently engaged in war games with India on the Chinese border. But like Ankara, the country has similarly significantly increased energy imports from Moscow. The Indian rupee has also become a major currency for the diamond trade, allowing buyers to bypass US sanctions.
Though the Western economic war was meant to negate Moscow’s military might and bring it to the negotiation table, it has so far seen little success. With Russian energy exports topping pre-war levels in recent months and the ruble rallying against the dollar, Russia’s economy appears to have fared far better than much of Europe since fighting erupted last winter.
Kyle Anzalone is the opinion editor of Antiwar.com and news editor of the Libertarian Institute. Will Porter is the assistant news editor of the Libertarian Institute and a staff writer at RT. Kyle Anzalone and Will Porter host Conflicts of Interest along with Connor Freeman. This article was originally published on The Libertarian Institute.
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Nato, USA, and Ukraine entered into an agreement with Russia concerning the Donbas region of Ukraine called the Minsk accords. This was brokered by France and Germany in 2014. These accords were never implemented.
The west started the conflict. And the west is trying to weaken Russia by engaging Russia in a protracted conflict. The west wants regime change in Russia now. This is straight liberal war mongers from the west…like regime change in Iraq, Libya, attempted in Syria, (hundreds of thousands killed by USA directly and indirectly) and now Russia.
What they want is to grab Russian assets on the cheap…like they did in Libya, Iraq, and Syria (ongoing theft of Syrian oil by USA). It is the Soros business plan dating back decades….o ..he and all his black money orgs got kicked out of russia in the late 90’s when soros crashed the ruble but they are running USA. Russia can see this from a long ways away. Therefore the curtain is down. The prediction is for a very cold winter in europe. Europe will be wondering why they listen to the USA. O and 46 US biolabs in Ukraine, creating Corona virus to be sprayed over Europe to drive the scare to vaccine remedy. Not really a remedy is it. You know who the bad actor is, the question is are all y’all going to continue to allow it?