Are Sanctions Unfair Or Necessary? Here's What Russians Say
Russians aren't happy about being made to pay the price for their leader's crimes. In a report by Al Jezeera, many of them made their case on why 'collective punishment' should not be applied:
Among the measures against Russia is a plan to block selected Russian banks from the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, a Belgian company that processes transactions for more than 11,000 financial institutions across the globe.
The move could have a crippling effect on the Russian economy by severely restricting business dealings with the outside world.
On Monday, the Russian rouble plunged to a record low of less than one US cent, losing more than 30 percent in value since the anti-Moscow steps where taken.
“The war itself will have a dramatic effect on the Russian and world economy. First, it is the loss of human life, both of military personnel and civilians – a long-lasting psychological impact. Although Russia has accumulated huge gold reserves, which would have let it survive previous sanctions for quite some time, now it will be used for the war machine,” said Inna Pomorina from Bath Spa University, who has signed an open letter by Russian economists condemning the war.
“Banning Russia from SWIFT as part of sanctions will be a major blow to Russian banks, as completing financial transactions will no longer be as simple for Russian businesses and for the Russian government,” she told Al Jazeera.
“Of course, sanctions will hurt ordinary people as well – they won’t be able to travel, prices will rise due to high inflation, many will lose their jobs, and international companies will stop operating in Russia.”
I feel for some of the Russian people, it's a terribly sad situation for both sides. It's hard, I'm sure but the world needs them to take action and overthrow their mad king before a world war becomes the only option.