Summary
Anand Raj, a foreign affairs expert and associated with the Eurasia Pacific Economic Forum, says that imposing sanctions on Russia will not make much difference as long as Europe’s dependence on Russia is not reduced.
When Russia attacked Ukraine, questions began to arise that why the most powerful countries in the world are silent. Neither NATO nor the European Union of European countries including America came forward to help as a military force in the war of Ukraine. But after about 36 hours of the war, Western countries started imposing all kinds of economic sanctions on Russia. According to experts, this is in a way the biggest ‘economic war’ against Russia in opposition to Ukraine. Now the question arises, will Russia bow down to the ‘economic war’ or it was aware of this and has other preparations of its own.
Anand Raj, a foreign affairs expert and associated with the Eurasia Pacific Economic Forum, says that imposing sanctions on Russia will not make much difference as long as Europe’s dependence on Russia is not reduced. Raj says that if you understand the trading module of Europe, then you will find that most of the trading activities in Europe are more related to Russia than America. Russia has more interference in the EU countries, especially in the matters of other products including natural gas.
The impact on the economy of the countries of the European Union
Anand Raj says that it is absolutely certain that when economic sanctions are imposed on a country, it has to face the consequences. But it remains to be seen on which country the economic sanctions are being imposed. They say that as much as the economic sanctions will harm Russia, the economy of the European Union countries will also deteriorate in the form of rising prices. Because Russia also contributes to the economy of these countries or say that most of the countries of Europe are also dependent on Russia from the business point of view.
RN Jindal, an economic expert and Professor of the Center for Advanced Studies of Economics, says that if a country is boycotted economically, then that country goes back tens of years. They say that now the definition of war has changed. The way America and the European Union countries have imposed economic sanctions on Russia, you can call it ‘economic war’. Which different countries of the world have started against Russia. They say that the US started imposing huge sanctions on Russia on the economic front in order to join the EU countries and support Ukraine as part of a very well thought out strategy. Professor Jindal believes that it is possible that as much as Russia is dependent on other countries of the world, the countries of the world will also be more or less dependent on Russia. Other countries of the world will also have to bear the brunt of this. But Russia will also suffer the biggest loss in this economic war.
Russia will bear the brunt
Foreign affairs expert and Delhi University professor Abhishek says that America has banned many big personalities including the President. Apart from this, the European Union has also imposed economic sanctions on Russia. Professor Abhishek says that the way the European Union and America have imposed sanctions on Russia, Russia will definitely have to bear the brunt. He says that even Russia’s economy cannot run on its own country alone. He too has had to deal with different business approaches in different countries of the world. It is a different matter that how much of those agreements are in European and America, it must have been assessed for sure.
He says that the longer the economic sanctions last, the more vulnerable Russia will be. But they say one thing very clearly that Russia will not be the only country affected in this economic war. The whole world is going to be affected by it. They say that the war in Ukraine is certainly the result of the weakening of America’s power. Because Ukraine is not getting help even after all the assurances and NATO cooperation, it shows that America is losing its power.
Expansion
When Russia attacked Ukraine, questions began to arise that why the most powerful countries in the world are silent. Neither NATO nor the European Union of European countries including America came forward to help as a military force in the war of Ukraine. But after about 36 hours of the war, Western countries started imposing all kinds of economic sanctions on Russia. According to experts, this is in a way the biggest ‘economic war’ against Russia in opposition to Ukraine. Now the question arises, will Russia bow down to the ‘economic war’ or it was aware of this and has other preparations of its own.
Anand Raj, a foreign affairs expert and associated with the Eurasia Pacific Economic Forum, says that imposing sanctions on Russia will not make much difference as long as Europe’s dependence on Russia is not reduced. Raj says that if you understand the trading module of Europe, then you will find that most of the trading activities in Europe are more related to Russia than America. Russia has more interference in the EU countries, especially in the matters of other products including natural gas.
The impact on the economy of the countries of the European Union
Anand Raj says that it is absolutely certain that when economic sanctions are imposed on a country, it has to face the consequences. But it remains to be seen on which country the economic sanctions are being imposed. They say that as much as the economic sanctions will harm Russia, the economy of the European Union countries will also deteriorate in the form of rising prices. Because Russia also contributes to the economy of these countries or say that most of the countries of Europe are also dependent on Russia from the business point of view.
RN Jindal, an economic expert and Professor of the Center for Advanced Studies of Economics, says that if a country is boycotted economically, then that country goes back tens of years. They say that now the definition of war has changed. The way America and the European Union countries have imposed economic sanctions on Russia, you can call it ‘economic war’. Which different countries of the world have started against Russia. They say that the US started imposing huge sanctions on Russia on the economic front in order to join the EU countries and support Ukraine as part of a very well thought out strategy. Professor Jindal believes that it is possible that as much as Russia is dependent on other countries of the world, the countries of the world will also be more or less dependent on Russia. Other countries of the world will also have to bear the brunt of this. But Russia will also suffer the biggest loss in this economic war.
Russia will bear the brunt
Foreign affairs expert and Delhi University professor Abhishek says that America has banned many big personalities including the President. Apart from this, the European Union has also imposed economic sanctions on Russia. Professor Abhishek says that the way the European Union and America have imposed sanctions on Russia, Russia will definitely have to bear the brunt. He says that even Russia’s economy cannot run on its own country alone. He too has had to deal with different business approaches in different countries of the world. It is a different matter that how much of those agreements are in European and America, it must have been assessed for sure.
He says that the longer the economic sanctions last, the more vulnerable Russia will be. But they say one thing very clearly that Russia will not be the only country affected in this economic war. The whole world is going to be affected by it. They say that the war in Ukraine is certainly the result of the weakening of America’s power. Because Ukraine is not getting help even after all the assurances and NATO cooperation, it shows that America is losing its power.