Writing on the continued crisis in Ukraine, Dr John Hulsman, president and co-founder of the global political risk consultancy John C Hulsman Enterprises, has look at how and why sanctions have become a busted flush for the West, and why Putin holds most of the cards in Ukraine.
With Putin upping the ante by sending in military reinforcements across the border, the strategic tide has turned, bolstering separatists and forcing the West to reveal its hand. However, with war against Putin rightly off the table, and as truly crippling sanctions – originally threatened to be implemented within the week – are unlikely to happen as they could harm a sclerotic Europe at least as much as Russia, John argues that “Europe has made it very clear that it’s bluffing.”
John believes this situation has occurred because “Russia simply cares more about what happens in Ukraine than either the US or any of the major European powers. Moscow is therefore prepared to invest more to achieve its desired outcome.” Europe’s energy dependence on Russia remains it’s Achilles Heel, as John argues that at present “imposing Iran-style sanctions on Russia would certainly throw Europe into a desperate energy crisis.” Read the full report published in The Telegraph.