Russia winning: U.S. companies comes together to lobby Washington about ending economic sanctions
For decades the U.S. has used economic sanctions as a ‘stick’ to try to coerce nations into ceding their wills to that of Washington’s foreign policies. ¬†But as alternatives to the dollar and to SWIFT have grown in the past 10-15 years, more and more countries held bondage to these sanctions have been able to bypass the dollar hegemonic system with the help of countries transitioning Eastward.
Ever since the U.S. used Russia as a scapegoat and then summarily imposed sanctions against the Eurasian power following¬†Victoria Nuland’s funding of the Maindan coup in Ukraine, the global economic chessboard has shifted to where Russia has actually prospered by cutting some ties with America and Europe, and establishing new financial agreements with China. ¬†And the biggest loser in this geo-political battle has easily been Europe, who has seen tens if not hundreds of billions of dollars lost in former trade deals cancelled by Moscow.
It has been four years since the U.S. issued their sanctions against Russia, and just as long since Putin retaliated with his own counter sanctions, and it now appears that corporations in the U.S. have finally had enough and are banding together to begin lobbying Congress to end the farce once and for all.
A wide range of American conglomerates, including oil, energy, banking, aerospace, auto and heavy manufacturing enterprises have jointly started a lobbying campaign against the new round of sanctions against Russia passed by the US Senate, CNN reports.
BP, ExxonMobil, General Electric, Boeing and Citigroup, MasterCard and Visa are reportedly among the companies raising concerns the punitive measures will ultimately harm their businesses, rather than the Kremlin.
Ford, Dow Chemical, Procter & Gamble, International Paper, Caterpillar, and Cummins have reportedly warned the measure could impact their businesses as well.
The new bill, aimed at punishing Russia for alleged meddling in the US presidential election, was approved last month. The measures target already sanctioned Russian banks and energy sector, limiting the financing period for them to 14 and 30 days respectively.
The legislation also introduces individual sanctions for investing more than $5 million a year or $1 million at a time in Russian pipeline projects or providing such enterprises with services, technology or information support.
Over a dozen of US corporations want changes to the bill and lobbyists and trade associations have been visiting Capitol Hill in recent days meeting members of Congress. ‚Äď¬†Russia Today
U.S. aggression in both economic and foreign policy has systematically led to a large region of the world forming a new economic order, while at the same time helping to isolate Washington from many of their allies. ¬†And all you have to do is look at what Turkey has done to the U.S. over the past year despite them being a vital NATO country, and what Germany is doing now in calling for closer relations with Russia, to see that much of the world has had enough of the American empire, and that is now including multi-national corporations based in the U.S. who rely more on foreign sales than they do so domestically.
Kenneth Schortgen Jr¬†is¬†a writer for¬†The Daily Economist,¬†Secretsofthefed.com,¬†Roguemoney.net, and¬†Viral Liberty, and hosts¬†the popular¬†youtube podcast¬†on Mondays, Wednesdays and Fridays.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.