Hong Kong-Sana
The American expert, Steve Hanke, described the Western sanctions imposed against Russia under the pretext of Ukraine as "ineffective" and counterproductive for the entire world.
In an interview with the Hong Kong-based Asia Times, Hanke, founder of the Johns Hopkins Institute for Applied Economics, Global Health and the Study of Business, said: "The economic cost of these sanctions will be great for Russia, but this cost pales compared to the consequences that the world will face," noting that the European Union will bear the costs. Huge and it costs a lot more than the US.
On the cost of these sanctions, Hanke indicated that there are only estimates from investment banks, central banks, international organizations such as the International Monetary Fund, as well as various non-governmental organizations, indicating that these estimates are random and partial to some extent are just the tip of the iceberg, while the real cost of the sanctions against Moscow will be Amazing for the world.
The American expert pointed out that the ban on the use and transfer of Russian energy resources will have a very negative and serious impact on the countries of the European Union, likely that the global oil and gas markets will become politicized, and oil will not be provided freely as it was over the past four decades, and this will eventually lead to everyone paying more than much earlier.
Hanke also criticized US President Joe Biden's statements in which he claimed that the inflation crisis in the United States was caused by Russia, indicating that the cause of the problems Americans are currently experiencing is the administration of Biden and his predecessor, Donald Trump.
It is noteworthy that the European Union announced earlier the sixth package of unilateral sanctions against Russia, which provides for the gradual implementation of an embargo on Russian oil imports, while Russian President Vladimir Putin stressed yesterday that the long-term mistakes made by Western countries in their economic policies and unilateral sanctions on other countries It led to global inflation, increased poverty and food shortages worldwide.
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