Joe Biden is planning to announce more supposedly “sweeping” sanctions against Russia this week in coordination with G7 countries in what appears to be the White House’s latest escalatory measure against the eastern nuclear power over what the Ukrainian, U.S. governments and corporate media conglomerates have claimed to be Russian “war crimes” in the Bucha, Ukraine.
CNN reports that the new sanctions “will degrade key instruments of Russian state power, impose acute and immediate economic harm on Russia,” and punish those close to Putin, according to a Biden administration official.
Speaking in Belgium at a NATO summit, Biden had previously admitted that sanctions on Russia in response to the Ukraine-Russia conflict will also hurt Europe and North America, and will create “real” food shortages for the West.
“With regard to food shortage, yes we did talk about food shortages, and it’s gonna be real,” Biden said during the press conference after meeting with other global elites.
“The price of the sanctions is not just imposed upon Russia,” he added. “It’s imposed upon an awful lot of countries as well, including European countries and our country as well.”
It is unclear if the new Russian sanctions will increase the severity of the apparently “real” and incoming “food shortages” that Biden had previously warned about.
This comes after analysts predicted that Russia is about to see its largest profits from selling oil and gas in the history of the country, even as the Russian ruble continues to regain value despite the previous flurry of U.S. sanctions, Valiant News reported.
German Science and Politics Foundation analyst Janis Kluge predicted last week that “The gas price on the spot markets has quintupled within the past year. That means Gazprom,” a Russian majority state-owned energy company, “will have record revenues” despite the sanctions, which Kluge says may be backfiring.
However, the Heritage Foundation recently predicted that it may simply take longer for the first round of sanctions to take full effect.
