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The Failed Economic War on Russia: A Lesson in Futility



The attempt to fight an economic war against Russia has proven to be a resounding failure. Despite Western predictions that sanctions and boycotts would destroy its economy, Russia has not only weathered the storm but has also been able to shift its economic priorities to the East.


Russia was subjected to harsh commercial, financial, and technological sanctions by the West, led by the United States, in an effort to destabilise its economy and coerce submission. But this strategy was doomed to failure from the start.


The West overestimated its power while underestimating non-Western nations' commitment to enacting sanctions against Russia and its oligarchs. Recognising its impracticality and potential for unexpected consequences, a broad export embargo on Russia was resisted by the European Union, Japan, and other countries.


The alliance between Russia and China has been a key component in its capacity to survive the economic conflict. China secretly intervened to significantly boost Russia's economy as the West worked to isolate Russia. China has given Russia vital resources, energy, and technology through bilateral commerce, thereby neutralising the effects of Western sanctions.


In fact, commerce between China and Russia has increased dramatically. China is becoming a more important alternative commercial partner for Russia as its trade with other countries nearby grows.


Russia has shifted its economic attention towards the East, developing closer relations with other vibrant economies in East Asia as well, rather than crumbling under the weight of Western pressure. By changing its strategy, Russia has been able to lessen the effects of Western sanctions and open up new markets for its products and resources.


The Russian economy has adjusted and discovered new development opportunities, lessening its reliance on Western markets, far from being destroyed as previously anticipated.


The limitations of a strategy based on unilateral economic coercion are made clear by the economic war's defeat against Russia. A deeply engrained mindset that overlooks the possibility of win-win collaboration and a multipolar world is revealed by the West's insistence on a win-lose ending, with Russia as the helpless victim and China as the clever overlord.


The West's attitude toward Russia has exacerbated tensions and hampered the possibility of meaningful international cooperation, as opposed to opening up a constructive dialogue and searching out mutual benefits to end the war in Ukraine.


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