Wednesday, April 27, 2022

Escalating the economic war of sanctions and counter-sanctions

AP reports,
Russia cut off natural gas to NATO members Poland and Bulgaria on Wednesday and threatened to do the same to other countries, using its most essential export in what was seen as a bid to punish and divide the West over its support for Ukraine.
The move, condemned by European leaders as “blackmail,” marked a dramatic escalation in the economic war of sanctions and countersanctions that has unfolded in parallel to the fighting on the battlefield.
The tactic, coming a day after the U.S. and other Western allies vowed to rush more and heavier weapons to Ukraine, could eventually force targeted nations to ration gas and could deal another blow to economies suffering from rising prices. At the same time, it could deprive Russia of badly needed income to fund its war effort.
Poland has been a major gateway for the delivery of weapons to Ukraine and confirmed this week that it is sending the country tanks. Just hours before Russia’s state energy giant Gazprom acted, Poland announced a new set of sanctions against the company and other Russian businesses and oligarchs.
Read more here: https://apnews.com/article/russia-ukraine-kyiv-business-bulgaria-moldova-2505307f5dcc882d38bab642ffce649f

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