The economic war against Russia reaches such intensity that it will have dire consequences for the world economy, a scenario where there are factors and conditions for the outbreak of another crisis in 2022, an expert said.
In an exclusive interview with Prensa Latina, Luis René Fernández Tabío, professor at the International Economy Research Center (CIEI) of the University of Havana, explained that these attacks were impossible to carry out before the globalization process, currently accompanied by a technological.
These are economic measures as a policy instrument to transform realities, pointed out the also Doctor of Economic Sciences.
The ultimate goal is to take away from Russia its main instrument: hydrocarbons, the specialist said, because despite being an advanced country in terms of its economy, its structure is highly dependent on the export of natural resources, not just oil. .
It certainly has a powerful military industry, large research centers with important results, they tried to develop the banking system, but unfortunately they have that strength/vulnerability, their main source of income is hydrocarbons, he added.
economic instruments of power
Fernández commented that the United States and its allies apply all available economic instruments of power against Russia and they are very strong, because they rely on globalization and on the privileged function of the dollar in the financial monetary system, as well as on the Swift banking mechanism. .
In the case of these last two aspects, although their impact could be reduced by strengthening some alternative systems in development, the conjunctural blow will be devastating, but not only for the Eurasian nation, but it will have enormous costs for Europe and to a lesser extent also for the United States and the rest of the world.
The specialist pointed out that globalization -in economic terms- uses technology in global networks and it is impossible to carry out any transaction if it is not registered by those systems.
This is what happens with the Swift system, whose disconnection has a severe effect for any economy, because the institutions fear being penalized by the Office of Foreign Assets of the United States Department of the Treasury, he explained.
He pointed out that since 2014 economic measures had already been applied against Russia, but the military operation in Ukraine gave the United States the opportunity to carry out a media war, strengthen the alliance of the North Atlantic Treaty Organization (NATO) and the European Union. (EU) against the Russian “threat”, something that basically is a manipulation of a hegemonic conflict.
If they managed to reduce Russia, it would allow them access to its extraordinary resources, the idea is to weaken it and create an internal crisis in the government of Vladimir Putin, the expert considered.
Hence the speed of economic measures, he said. The alliance between the United States, the EU and NATO promoted sanctions never seen before, and the Western media played an important role in this, since they control 90 percent of the information that passes through the world.
“The economy is a policy instrument, but in the current technological context it acquires greater relevance, because now the infrastructure of global networks and the development of systems allow knowing, monitoring and controlling all financial and commercial transactions,” said Fernández.
It is about the use of economic instruments to transform the balance of global hegemony, and try to achieve a condition that allows it to achieve its political objectives without reaching military intervention, or its use as a form of softening.
It is the application of coercive mechanisms for political purposes in order to, without shooting or bombing, destroy a factory or put an end to the capacity of a country to develop a technology, as well as act on the societies that are the object of these aggressions, he reflected.
In the background is the feeling of hostility and confrontation at a higher level with Russia and China, not only because of ideological and political differences, but as part of the dispute over the possible reconfiguration of world hegemony.
other looks
The CIEI specialist stressed that there are many edges to explain the strategic perspective of the United States in this scenario, whose fundamental objective is to strengthen its hegemony through economic warfare and, in addition, to try to unite its own country, divided and weakened by internal struggles. .
In this sense, he mentioned the political divisions within the traditional parties; the threat of the neo-fascist conservative forces, as it emerged with the Trumpist near-coup; economic contradictions, with inflation not seen since 1982, and foreign policy disasters such as the exit from Afghanistan.
“The US president, Joe Biden, is in a very weak position, with problems and challenges everywhere, and to top it off in an election year (midterms), but as a result of this conflict his level of acceptance rose by five percent” , argument.
So, the provocation to Russia can also seek success in foreign policy, with the addition of recovering its hegemony and important economic interests, he said.
The Government of the United States is the main interested party and instigator in the search for economic benefits, Fernández explained.
They were opposed from the beginning to the Nord Stream 2 gas pipeline, since they consider it an instrument of power and influence of Russia, hence the insistence on blocking this source of good quality gas, with stability and competitive prices.
Finally they managed to stop the project, with which they have an open line to sell more expensive liquefied gas to Europe, that is, take the profit and in the process get a greater dependency on the EU.
From a geopolitical point of view, they weaken Russia, isolate it from the Western world, while the United States shows itself to be the great leader, the EU weakens, NATO’s military presence in Europe is strengthened, justified by the “Russian threat”, and in addition, they try to isolate China and also threaten it.
It constitutes an economic war whose final balance is unknown, and many chapters are still missing, he concluded.
