The Financial Thermonuclear Sanctions are doing their jobs. The Russian people cannot escape the consequences of their leader’s actions.
“Russia flagged a likely further cut in interest rates and more budget spending to help the economy adapt to biting western sanctions as it heads for its deepest contraction since 1994,” Reuters reports.
“Russia faces soaring inflation and capital flight while grappling with a possible debt default after the West imposed unprecedented sanctions to punish President Vladimir Putin for sending tens of thousands of troops into Ukraine on Feb. 24.”
The FTS may well be the best way to control the behavior of rogue countries that threaten others. It cannot be used often as it requires so many other countries to get involved but when it does, it has to do enough damage so that no leader ever wants to trigger them. The FTS needs to stay in place as long as Putin is in a position to threaten any country.
[Image: Larry Koester]