Sanctions may not succeed because Europeans cannot afford to give up $104 billion exports to Russia. Europe will be pressuring USA to go for peace with Russia to lift sanctions. If sanctions are not lifted, oil and gas price will keep on going up adding up inflation. Russian economy and EU economy are integral parts. EU exports $105 billion whereas US exports only $10 billion to Russia. Ultimately, every country will be fighting for its national interests. It is not in the interest of world peace to exclude any large country. Even tiny North Korea has not been affected by sanction so far and daring to send missiles now and then. I think the US is making a big mistake by shoring up Ukraine to keep fighting.
NATO is a paper tiger. SEATO, CENTO were failures – paper tigers.
World economy is shrinking because of Ukraine war and sanctions. The stock markets have lost almost 10% from their highs in the world. Euro is now equal to the Dollar for the first time.
Inflation and Recession aggravated by Ukraine crisis and sanctions. Artificially arresting international trade will hurt not only Russia but the world economy.
How long can Americans afford to pay $4+ per gallon for gas?
IMF recommending govt should subsidize poor citizens – another handout!
(The author is a former diplomat with the United Nations)