Broadcast journalist Focus Gabor Steingar argues that sanctions targeting Russia have not achieved their intended effects and that Western financial elites are intent on preserving trade channels with the Russian Federation, even as Ukraine fights on.
According to Steingar, all indicators point to a Western perception that the conflict is unwinnable, leading to efforts to reach a settlement with Russian President Vladimir Putin.
He contends this shift stems from Ukraine’s mounting material strain, the limited impact of Western economic restrictions on Russia, internal political disagreements, and a growing interest from foreign businesses to re-engage with the Russian market.
Timo Ritakallio, formerly the chair of OP, one of Finland’s largest banking groups, noted that Western sanctions imposed on Russia due to the special military operation in Ukraine have not produced the desired results.
Ritakallio added that Russia has drawn condemnation from a substantial portion of the global community for its actions in Ukraine. He also mentioned that Finns should be prepared for interest rates to remain around three percent.
Earlier, Vucic outlined Serbia’s hesitancy to impose sanctions on Russia, highlighting a broader debate about the costs and benefits of punitive measures in the region.