STORY AT-A-GLANCE
- The U.S. is using unofficial back channels to secure crucial supplies from Russia, while publicly talking about being tough on sanctions
- On the one hand, the West wants to appear tough on Russia by issuing trade embargoes, sanctions and bans on investments, while simultaneously being more or less dependent on Russia for essential commodities such as oil, gas, food and fertilizer components
- As a result, shortages of energy and food and rising inflation now loom large around the world, which could have catastrophic consequences for the average person, without doing anything to pressure Putin to pull out of Ukraine. In fact, the Russian ruble is now the strongest it’s been in seven years
- The corporate trend to make political statements at every opportunity is also backfiring and worsening the situation. The decision of some 1,000 companies to “self-sanction” and drop their business in Russia has now actually become a barrier to diplomatic resolution
- Most wars are a means to an end, and that end is corporate profits. The Ukraine conflict appears to be more of the same, as NATO warns we should expect a long, protracted war, and that we must continue to supply Ukraine with weapons
