Friday April 17, 2015
Having now had a year’s time to get better acquainted with their new Ukrainian friends and the neighborhood overall, Europeans are losing their taste for economic sanctions on Russia.
Contrary to American assurances, economic warfare against Russia meant to compel the return of Crimea to Ukraine hasn’t worked. Nor did the Ukrainian military’s campaign against the Donbas tame the Russian “aggression” mainstream media shouts about daily. All Europe has achieved to date is tens of billions in lost trade and Russia’s abandonment of the South Stream pipeline.
The Russians were building South Stream to insure the – politely put – “integrity” of gas flows to Europe while in transit across Ukraine, and put an end to the country’s 24-year racket of holding Russia’s energy commerce with Europe hostage by virtue of having inherited a key segment of the Soviet pipeline network. The loss of jobs and transit revenues their participation in the construction and operation of South Stream promised was keenly felt in Hungary, Bulgaria, Serbia, Slovenia, Croatia, Macedonia and Bosnia-Herzegovina. Austria, France, Italy, Cyprus, Luxembourg, the Czech Republic and Germany have all taken serious losses thanks to the trade sanctions as well.