Date: 2025-07-02 Page is: DBtxt003.php txt00021823
SANCTIONS ON RUSSIA
ALJAZEERA ... COUNTING THE COST
AlJazeera Counting the Cost ...
ALJAZEERA ... COUNTING THE COST
AlJazeera Counting the Cost ...
Original article:
Burgess COMMENTARY
Peter Burgess
76,050 views
Mar 7, 2022
Al Jazeera English
8.78M subscribers
Massive Western sanctions over the war in Ukraine have excluded some of Russia's banks from the SWIFT payment system and barred the central bank from accessing its huge dollar reserves.
But the country's biggest earner - the oil and gas industry - has been spared.
Most of Europe relies on Russia for energy. China is also a sizable consumer. Moscow and Beijing share warm ties and Russia could move towards Chinese financial initiatives set up to rival the West.
We also look at the implications of the war for global food security. More than a quarter of wheat exports come from Russia and Ukraine and grain prices have skyrocketed.
