The Junior Empire Plots More Sanctions Warfare vs Belarus, Hopes to Hurt Russia by Extension
Reuters: "Brussels raises the price of bolstering Belarus"
The European Union is squeezing President Vladimir Putin’s geopolitical tentacles. Brussels was on Monday preparing tougher sanctions against Belarus over the forced landing of a Ryanair passenger plane in Minsk, including a possible ban on EU investors from trading securities or buying short-term bonds read more . That puts pressure on Russia to step up financial support to its ally.Belarus’s sovereign dollar debt tumbled – its 2031 bond hit a record low. Raising new funds will be much pricier if Belarusian bonds become untouchable. Russia may thus have to make up the shortfall: hard-currency sovereign bonds make up nearly a third of Belarus’s $18.5 billion external debt, roughly a third of its GDP. Failure to help could cause currency weakness, stoking further civil unrest against President Alexander Lukashenko. With $115 billion in liquid assets, [nearly $600 billion reserves] Moscow has plenty of rainy-day funds. But the resurgence of Covid-19 and falling real incomes mean it won’t want to waste them.
Talk about “hybrid warfare”. Only it’s total war in that every single woman, child, and pensioner in the target country is a target.
Is there a single non-Western country on the European continent that isn’t begging Brussels to annex her to the EU that isn’t subject to sanctions warfare by Brussels? The answer: no.