West anti-Russia sanctions miscalculations – analyst
A prominent political commentator has downplayed the efficiency of Western sanctions against Russia over the Ukraine crisis, saying the adoption of such punitive measures is a “miscalculation,” Press TV reports.
Daniel Faraci, director of Grassroots Political Consulting from Washington, said in an interview with Press TV that the anti-Russia bans have already backfired on the Western countries.
“The West’s complete miscalculation has caused nothing more than partnerships for Russia in other regions across the globe in energy and agriculture sectors,” Faraci said.
The remarks come as Russian President Vladimir Putin is on a visit to India in order to enhance Moscow’s political and economic ties with New Delhi.
Reports say Moscow and New Delhi could strike several deals in energy, defense, customs and banking areas following Putin’s talks with Indian Prime Minister Narendra Modi.
The commentator further stressed that Russia has boosted its cooperation with China in a bid to replace the dollar’s role as the world’s primary reserve currency.
Commenting on Russia’s growing ties with the Latin American nations, the analyst noted that Moscow has expanded its relations with Brazil and Argentina in various spheres.
Ties between members of the BRICS group of emerging powers are expected to counter US and Western influence on the global economy, Faraci added.
Elsewhere in his remarks, the commentator said that the current economic and political challenges facing Ukraine were sparked by the “coup” against the country’s former pro-Moscow President Viktor Yanukovych in February.
In recent months, Western states have imposed sanctions on Russia, including on its financial and energy sectors, and put a number of Russian nationals close to President Putin under sanctions.
In a tit-for-tat measure, Moscow imposed year-long food bans on the US, the EU, Australia, Canada and Norway in August. The move is estimated to cost European agricultural industries millions of dollars in damages.
The West accuses Moscow of having a hand in the crisis in eastern Ukraine, which erupted when Kiev launched military operations in mid-April to silence pro-Russia protests there. However, the Kremlin denies the accusation.