Biden Having An Increasingly Difficult Time With G-20 Fissures
https://mishtalk.com/economics/biden-having-an-increasingly-difficult-time-with-g-20-fissuresG-20 Pressure Failing
The G-20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. Spain is also invited as a permanent guest.
The Biden administration wants to increase pressure on Russia, but finds increasing resistance to do more.
Brazil, Russia, India, and China widely known as BRICs have not bowed to US pressure. Nor have Mexico, Saudi Arabia, or South Africa.
The 2022 G-20 meets in November but those nations are also at an IMF summit right now.
Treasury secretary Janet Yellen plans to avoid Russian officials at meetings this week, while engaging with countries that haven't joined in sanctions.
The Biden administration tries to increase pressure on Russia, but is increasingly difficult.
The BRIC nations do not have any interest in imposing sanctions. Mexico, Saudi Arabia, and South Africa have not expressed interest.
Sanction Limits
We are at the limits of sanctions and they have failed. There is little else to do.
The sanctions did nothing to deter Russia, they have only increased costs and added to inflation across the board.
Sanctions do not work.
