Sanctions against Russia will backfire on US and allies, claim analysts and media

Moscow/Washington: – The United States and its allies have issued a warning to impose aggressive sanctions against Russia on the Ukraine issue. Analysts and media are claiming that these sanctions imposed to jolt Russia could, in reality, backfire on the United States and its allies. US analysts have warned that sanctions imposed against Russia can hit the US economy. Russian President Vladimir Putin has already warned that it will be a blunder on the part of the United States to impose sanctions against Russia over the Ukraine issue. This would permanently sever the ties between the two countries.

Moreover, comprehensive talks over the Ukraine issue are expected to be held over the next two days between Russia, the United States, and its allies. Before the talks, verbal volleys are being exchanged between the two sides and the United States, NATO and the European countries are consistently issuing warnings to Russia. The United States and the European countries have indicated the imposition of stringent sanctions against Russia. It is being said that these sanctions will target Russian company Gazprom, Russian central bank, aerospace industry and smartphone exports. Besides, claims have also been made that Russia will be expelled from SWIFT, the international transaction system.

Against this background, the United States and Europe analysts are warning to exhibit caution while imposing the sanctions. The sources in the US administration claimed that intense repercussions would be felt in the global economy if sanctions were imposed against Russia. Sources warned that fuel prices would flare up and the trade and investment in Europe would be rocked. Warnings of significant cyberattacks on essential sectors in the United States and Europe also are being issued.

Western countries, including the United States, have imposed strict sanctions against Russia over the issues of Crimea, cyberattacks, action against Alex Navalny, espionage, and poisoning plots. Although Russia suffered a hit given the sanctions, President Putin managed to turn the economy around. Russia has also adopted an aggressive policy to reduce dependence on the USD to avoid suffering any significant losses due to sanctions in the future.