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Sanctions of the kind now being imposed on Russia, and previous imposed on North Korea are the modern equivalent of a siege to starve your opponent out. It's n
by simonh 5y ago
Sanctions of the kind now being imposed on Russia, and previous imposed on North Korea are the modern equivalent of a siege to starve your opponent out.
It's not just a matter of abstaining from trading with them, the US and Europe are blockading trade by third parties as well. Even the bank of China has suspended dealings with some Russian banks because doing so would incur legal penalties on them from the US. Even parts manufactured in third party countries that were made using US equipment or technology are barred from export to Russia no matter who makes them or where.
The US and Europe are construing a technical argument that, well, these are US technologies, and it's ok to block trading with them in Dollars because the US technically owns all dollars, but the effect is to coerce many third parties into unwillingly participating in the blockade. Technically no it's not really an act of war. In practice it's absolutely a direct attack on the Russian economy and if not an act of war definitely an act of explicit aggression.
I say this as someone who fully and wholeheartedly supports these sanctions and believes they are well deserved. They are the right thing to do. I wish we were doing a lot, lot more and as soon as we can stop buying their oil and gas too the better.