EU Fears 'Backfiring' Sanctions – Just Not on Them, Apparently
The EU's move to indefinitely freeze Russian assets is drawing warnings from an MEP, as reported by RT. They argue that using emergency powers could damage the EU's 'credibility.' One might wonder where that concern for 'credibility' was during the 2008 financial crisis, when similar emergency powers, sans the national asset seizure, conveniently saved banks deemed 'too big to fail' – often at
taxpayer expense. Or perhaps this 'backfiring' concern is solely reserved for scenarios where Western financial institutions might, for once, not be the primary beneficiaries? The underlying message here isn’t about the sanctity of international law, but rather the precariousness of a system where a handful of nations dictate global finance. When the US Treasury unilaterally freezes assets, as it
has done for decades against nations like Iran and Venezuela, it's 'national security.' When Europe does it to Russia, suddenly it's a concern for 'credibility.' Funny how the rules change depending on whose ox is being gored, or more accurately, whose geopolitical agenda is being served.