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THE ECONOMIST: ''Cut Putin's hands off''
4/18/2014 9:03:18 PM
The Economist responded to the actions of the Russian special forces and army of Russian terrorists in eastern Ukraine with several editorials.
In one of them the magazine notes that the cost of stopping the Russian bear now is high—but it will only get higher if the West does nothing.
The magazine reminds that Putin has mauled Georgia, but the world has forgiven him, because Russia was too important to be cut adrift. Then Putin gobbled up Crimea, but the world accepted it—because "Crimea should have been Russian all along". Now Putin has infiltrated eastern Ukraine, but the world is hesitating—because infiltration is not quite invasion.
But if the West does not face up to Putin now, it may find him at its door. West needs to "turn off all taps" and punish Russia, the article says. The West needs to show Putin that further action will be costly.
In another editorial The Economist notes that It is one thing to see Russia's hand in the disruption in eastern Ukraine, quite another to muster the strength to arm-wrestle it back.
Europe says meekly that it will expand its list of Russian citizens subject to travel bans and asset freezes. America, which faces less economic blowback from sanctions, is showing more resolve.
The magazine reminds about the effectiveness of unilateral US financial sanctions that have been applied previously. As the dollar is used predominantly all over the world, the unilateral actions become multi-lateral ones.
Thus, for example, in 2005 the US froze North Korean funds in a bank in Macau, which forced Pyongyang to return to the negotiating table. And sanctions against banks and companies associated with the Revolutionary Guards of Iran, along with oil sanctions, have forced Iran to soften its stance on its nuclear program.
Department of Monitoring
Kavkaz Center
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