By freezing the assets of Russia’s central bank, the west has taken the biggest gamble in the history of economic warfare, says Wolfgang Munchau, co-founder of Eurointelligence.
That one sanction means the West has done all of the following, writes Munchau: “Undermined trust in the US dollar as the world’s main reserve currency; forestalled any challenge the euro might ever make; reduced the creditworthiness of our central banks; encouraged China and Russia to bypass the western financial infrastructure; and turned bitcoin into a respectable alternative transaction currency. At least the blockchain is not going to default on you.’’ Full Article: Eurointelligence.
ALSO ON AF: Russia-Ukraine Hope for Compromise as Peace Talks to Resume
