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    Home » Are Sanctions on Banks at All Effective in Stopping Russia’s Provocation?

    Are Sanctions on Banks at All Effective in Stopping Russia’s Provocation?

    npsBy nps28 February 2022Updated:4 July 2024 No Comments3 Mins Read
    — Filed under: Focus
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    As if the world wasn’t already in a period of uncertainty, another serious event has broken out recently that threatens the future of the whole world.

    Soldier shooting - Image by WikiImages on Pixabay

    While the pandemic posed a natural problem that humans were able to band together to fight against, this time, the aggressor isn’t a mere virus. Instead, it happens to be one of the world’s biggest superpowers. The fact that Russia has now invaded Ukraine seems almost surreal, and the anxiety that much of the world is likely feeling right now might have been the same feeling that was experienced all the way back in 1939.

    There will likely be many who are seeking to carry on their lives in light of the events in Europe. These people cannot be blamed for doing this though ? the world has just emerged out of a landscape that deviated from the norm greatly, and now, it faces being thrust right back into the same situation. During the last couple of years, people would have likely accessed the entertainment they love to deal with the challenging times, gambling is one good example of this and interested players who visit sites like casinosnotongamstop.org will discover great places to play. On the other hand, this is also a time where citizens should remain aware of what is happening in the world and encourage their governments to act.

    It might be more accurate to say that citizens should encourage their governments to act more, as the West has certainly tried to stop Russia from attacking Ukraine over the last week. Many will already be aware the US, EU and Britain have all announced sanctions on Russia following Moscow’s recognition of the independence of two regions within Ukraine. For many, this was viewed as the precursor to war and yesterday, that proved to be the case. The main focus of the sanctions was to target Russian banks, but it is clear that this hasn’t worked.

    The consensus is that the impact of the sanctions was minimal. Instead, it seems that Western governments are withholding from introducing larger sanctions in case the crisis in Ukraine escalates, but it should now be clear that the situation has gotten out of hand. Russia has now invaded Ukraine, likely encouraged by the minuscule impact of the sanctions that were forced against it. Given Russia’s landmass and wealth of resources, it is likely that Putin took a calculated risk when deciding to invade Ukraine. He knew that Western governments wouldn’t impose massive sanctions, and he successfully called their bluff.

    The result is the situation the world now finds itself in today. If an all-out war between Russia and Ukraine was to break out, there is no doubt who the victor would be after the dust settles. It is clear that Western sanctions on Russia have failed to stop provocation, and given this, Western governments and other world superpowers must seek to intervene. After all, the purpose of studying history is to avoid repeating the same mistakes that have been made before. If the world stands by and allows Russia to invade and potential install a new regime in Ukraine, there is no doubt that the world order will be forever changed.

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