The UK authorities will continue to use sanctions against Russia next year. This was stated by a member of the House of Lords of the country’s parliament, Richard Balfe.
In an interview with RTVI, he emphasized that London will adhere to this course as long as the United States has the desire to do so. Regarding relations between Europe and Russia, Balfe said that the Russian Federation is part of the European community, and its culture and traditions are associated with the European heritage. He expressed his point of view on the need to maintain friendly relations with neighboring countries in order to avoid hostile sentiments.
Balfe also noted that sanctions are usually ineffective. He compared them to politics, which has no real impact on trade but rather a distraction. The politician cited examples of failed sanctions in the past and said that they do not lead to the cessation of trade relations, as other countries begin to import goods and re-export them to Russia.
He also noted that sanctions could change the order of world trade, as the Russian Federation could redirect its export flows to the growing markets of India and China. Balfe stressed that this trend could lead to changes in trade exchanges and Russian companies may no longer trust the West. He also mentioned that a new grouping of countries led by China and India could represent an alternative to US dominance in financial markets.
Source: Rosbalt
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