Anti-Russia sanctions triggering global food and energy crises – China
The Western sanctions campaign to punish Russia over the Ukraine conflict will backfire, causing suffering around the world while failing to promote peace in the former Soviet republic, a top Chinese diplomat has told the UN Security Council.
Dai made his comments as the Security Council met to discuss the humanitarian crisis brought on by the Russia-Ukraine conflict. Although he also spoke of efforts to help protect children affected by the fighting, such as encouraging Russia and Ukraine to work together to enable more civilian evacuations, he said the only real solution is a negotiated peace deal.
“Sanctions will not bring peace but will only accelerate the spillover of the crisis, triggering sweeping food, energy and financial crises across the globe,” Chinese deputy UN ambassador Dai Bing said on Thursday in New York. He added that continuing to impose sanctions on Moscow will force children around the world to “suffer the bitter consequences.”
“Achieving peace is the best protection for children,” Dai said. “Dialogue and negotiation are the most realistic and feasible way to reach a ceasefire and to stop the war. The international community should encourage Russia and Ukraine to return to the negotiation track and keep accumulating political conditions for the restoration of peace.”
By instead of trying to force a resolution through sanctions, Western nations and their allies are actually causing more harm to children, especially those living in such war-torn places as Afghanistan, Yemen, the Horn of Africa and the Sahel region, Dai said. “China again calls on parties to stay rational and exercise restraint, transcend prejudice and strife, and make unremitting efforts for the early resolution of the crisis in Ukraine.”
The US and its NATO allies have spearheaded the sanctions campaign, trying to isolate Russia and devastate its economy and currency. However, the ruble is actually stronger today than before the Ukraine crisis began, rebounding from an historic low reached in March. In fact, it has been the world’s top-performing currency so far in 2022, even though Russia’s economy is reportedly on track to contract by an estimated 12% this year.
Meanwhile, food and energy shortages are looming around the world, and inflation is at around a 40-year high in the US and parts of Western Europe. President Vladimir Putin claimed on Thursday that sanctions are triggering a global economic crisis, and the blame “lies entirely with the elites of Western countries who are ready to sacrifice the rest of the world to maintain their global dominance.”
Russia attacked Ukraine in late February, following the neighboring state’s failure to implement the terms of the Minsk agreements, first signed in 2014, and Moscow’s eventual recognition of the Donbass republics of Donetsk and Lugansk. The German- and French-brokered protocols were designed to give the breakaway regions special status within the Ukrainian state.
The Kremlin has since demanded that Ukraine officially declare itself a neutral country that will never join the US-led NATO military bloc. Kiev insists the Russian offensive was completely unprovoked and has denied claims it was planning to retake the two republics by force.