All articles tagged with #economic warfare
Originally Published 3 months ago — by Politico
China is escalating its economic pressure on the US through actions like boycotting American farm goods and port fee tit-for-tat, revealing a complex phase of its strategic economic warfare amid tense US-China relations and upcoming high-level talks.
Originally Published 1 year ago — by Business Insider
A Russian court has imposed an astronomical $20.6 decillion fine on Google for banning YouTube accounts, a sum that far exceeds the global GDP and highlights the symbolic nature of Russia's legal actions against Western companies. This fine, seen as a message of discontent from Russia, underscores the country's limited ability to enforce such penalties and reflects broader economic tensions with the West, particularly following sanctions imposed due to Russia's invasion of Ukraine. Legal experts view this as indicative of a Russian legal system increasingly isolated from international norms.
Originally Published 1 year ago — by Quartz
Ukrainian forces have attacked three Russian oil refineries, including the largest operated by Rosneft, in an effort to undermine Russia's economic stability and reduce its oil revenue. This comes as Russia's oil exports reach their highest level this year, and as the country faces economic constraints due to military spending. The attacks also coincide with an upcoming presidential election in Russia, where economic stability has been a key selling point for Vladimir Putin's continued leadership.
Originally Published 1 year ago — by Responsible Statecraft
The REPO Act, which would allow the US to seize and transfer Russia's frozen sovereign assets to Ukraine, is criticized as an act of economic war that could backfire. Critics argue that this move could escalate tensions with Russia, hinder prospects for peace, and damage US credibility in the global economy. They warn that such actions could lead to retaliation, de-dollarization, and a broader erosion of international law, ultimately advocating for the rejection of the bill as a step towards fixing broken foreign policy.
Originally Published 2 years ago — by Business Insider
Ukraine has escalated its attacks on Russia's Black Sea Fleet, causing significant damage to Russian equipment and infrastructure in the occupied Crimean Peninsula. The increased tension comes after Russia withdrew from a UN-brokered deal that allowed Ukraine to export grain. Ukraine, known as "Europe's breadbasket," relies on access to Black Sea ports for its grain exports. However, Ukraine has recently established a new shipping corridor in the Black Sea, bypassing Russia's port blockades. The success of this new route may be attributed to Ukraine's ability to target Russian warships and deter them from entering Ukrainian waters. The economic interests of Ukraine in the Black Sea region add another layer to the ongoing conflict.
Originally Published 2 years ago — by Yahoo News
Russian airstrikes on Ukraine's major port city of Odessa, particularly targeting its grain industry, are seen as part of an economic war aimed at extracting maximum pain following Russian President Vladimir Putin's decision to terminate a United Nations-brokered deal allowing grain exports from the Black Sea. The attacks have caused significant damage to the grain industry, destroyed thousands of tons of grain, and are seen as an attempt to cripple Ukraine's agricultural sector, which accounted for about 20 percent of its economy. The use of the Danube River as an alternative trade route has shown promise, but falls far short of satisfying export potential. The United States has provided crucial support to Ukrainian farmers, but some farmers are pessimistic about the survival of their businesses amidst the ongoing economic warfare.
Originally Published 2 years ago — by The Washington Post
Russian President Vladimir Putin's decision to terminate a United Nations-brokered deal allowing grain exports from the Black Sea has led to a series of attacks on Ukraine's agriculture sector, including airstrikes on grain storage facilities near Odessa. The attacks have caused significant damage to the industry, destroying tens of thousands of tons of grain and crippling Ukraine's economy. The United States and international aid agencies dispute Russia's claim that Western sanctions are to blame for the collapse of the deal, seeing it as part of Putin's intentional strategy to decimate Ukraine's economy. The use of the Danube River as an alternative trade route has shown promise, but it still falls short of satisfying Ukraine's export potential. African leaders have urged Putin to halt the blockade and return to the grain deal, warning of a worsening food crisis in some African nations. The United States has provided crucial support to Ukrainian farmers, but many are pessimistic about the survival of their businesses.