(...) The Western response to this dramatic situation
has so far been totally insufficient. In particular, European countries have the means to immediately stop Russian gas and oil supplies. A
German academic study has just demonstrated that an immediate halt to imports would cost a maximum of between 2% and 3% of German GDP.
(...) This implies not only an immediate end to the financing of the Russian state through hydrocarbon purchases, but also a complete rethink of the functioning of economic sanctions, which today have a far greater impact on millions of ordinary Russians than on the small oligarchic and kleptocratic class on which the regime relies.
It is claimed that the sanctions are aimed at the oligarchs, but the truth is that only a few hundred people are affected, without systematic control and with multiple loopholes, whereas
tens of thousands of Russian fortunes invested in Western financial and real estate circuits should be targeted.
The stakes are high, not only to bring the Putin regime to its knees, but also to convince Russian and international opinion that the great speeches on justice and democracy are not empty words. In both Africa and Asia, more than half of the countries (and three quarters of the world’s population and GDP by 2100) have abstained at the UN. Western countries are suspected of forgetting all their past invasions and thinking as always only of defending their interests and domination. The problem is that the legal and financial system put in place by the West for several decades is primarily aimed at protecting the wealthy, wherever they come from, at the expense of others.
If an ordinary Russian loses half of his pension or salary because of the fall in the ruble and inflation caused by the sanctions, then there is no recourse, no court where he can complain. On the other hand, if you want to deprive an oligarch with 100 million euros of half his fortune, then there are multiple procedures to challenge the decision, and very often you don’t pay anything. We are so used to this that we don’t pay attention to it any more, but it is actually a totally biased and asymmetric rule of law. It is by going much further in law and justice that Western countries will be able to contribute to building a post-militaristic and post-colonial world.