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IN recent years, international relations have experienced unprecedented tensions between the West and Russia. This has resulted in the implementation of various economic and diplomatic sanctions by the US and its allies.
The objective was to isolate Russia; however, these sanction campaigns have had far-reaching consequences, affecting not only the global economy but also the US.
The move to isolate Russia stems from a range of international issues, including the ongoing Syrian conflict and the Russian-Ukrainian war, but the impact of the action has been felt globally. It has caused significant fluctuations in oil prices, and, in recent months prompted some countries to explore alternative transaction currencies beyond the US dollar.
Countries opting for non-US dollar transactions, such as the euro or Chinese yuan, diminish the economic influence of the US globally. Moreover, high oil prices, influenced by supply, demand, and international tensions, play a crucial role in the global economy. With Russia being a major oil producer, its substantial profits fortify its position and reduce vulnerability to economic sanctions.
The US action has raised doubts about its relationships with other countries, further exacerbating global instability. This situation heightens the risk of international conflicts and the emergence of new wars, posing a grave threat to global security.
In the US, the economic sanctions on Russia have had detrimental effects on certain companies, resulting in substantial financial losses.
The effectiveness of the US bid to isolate Russia in achieving desired goals remains questionable. Instead, it has had adverse effects on the global economy. While there are contentious issues between the West and Russia, promoting dialogue and understanding is crucial for resolving international differences.
It is important to note that the influence of the US on the West has noticeably waned. Tensions between Washington and certain countries in the region have arisen due to US sanctions policies and interference in their internal affairs. Moscow, capitalising on this, aims to position itself as an international power upon which regional countries can rely, thereby exacerbating the diminishing US influence.
Furthermore, Russia is actively working to strengthen its relationships with other nations, particularly emerging and developing countries. This is accomplished through the signing of trade, economic, and diplomatic agreements, as well as by providing aid and engaging in technical and military co-operation. These efforts serve to enhance Russia’s international sway and expand its sphere of geopolitical influence. Additionally, Russia strives to consolidate its position within international organisations.
In parallel, Russia is dedicated to bolstering its military and defence capabilities. It focuses on advancing weapons technology and enhancing the readiness of its armed forces. As a major player in arms manufacturing, Russia exports significant quantities of weapons and military equipment to other countries. This poses a challenge to the US and its allies.
It is imperative to reassess the efficacy of isolating Russia and explore alternative strategies for resolving international disputes. Prioritising dialogue and fostering mutual understanding should be emphasised to mitigate the potential for conflicts and cultivate a more stable global environment.
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