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Jun 21, 2022
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Asia Times: Double humiliation of Washington because of Ukraine

“Compromise in Ukraine will humiliate Washington, but this is the only possible way to stop what is happening”

Having made a series of miscalculations in Ukraine, the Biden administration faced a double disaster: a recession in the country and a second strategic humiliation in a year.

The US economy entered a recession, inflation due to rising oil prices caused a decrease in wages by about 6%.

“The world economy is suffering from the crisis in the supply of energy and food, which were caused by Western sanctions against Russia. Monetary policy will only reduce inflation if it forces consumers to stop shopping. This will force retailers to sell inventory at discounted prices and reduce demand for raw materials. But in this case, the cure will be worse than the disease.”

writes an American economist David Goldman (David P. Goldman) in online edition Asia Times.

Energy prices have become the main cause of inflation in the G7 countries. American and European consumers are buying oil at full price, while India and China, who have escaped anti-Russian sanctions, are receiving a significant discount.

Washington, according to the author of the article, seriously underestimated the viability of the Russian economy and the potential of the Russian army.

“Getting back from the brink will not be easy, if not impossible. Biden denounced the Russian leader as a war criminal, said he should not remain in power, and boasted that US sanctions would halve the Russian economy. And Secretary of Defense Austin Lloyd argued that the United States would deprive Russia of the ability to conduct armed conflicts.

A compromise in Ukraine with significant territorial concessions to Russia will humiliate Washington, but this is the only possible way to stop what is happening.”

the analyst says.

Negotiations to resolve the armed conflict in Ukraine are possible. A hint of possible efforts in this direction was made on June 14 from the mouth of the US Deputy Secretary of Defense for Political Affairs Colin Kalya (Colin H. Kahl), who declared: “We are not going to tell the Ukrainians how to negotiate, about what and when. They will set these conditions for themselves.”

Of course, here he is cunning, notes Goldman. On February 15, France and Germany asked Zelensky to fulfill the terms of the second Minsk agreement, under which the Russian-speaking regions of Donbass would receive autonomy within sovereign Ukraine. Ukraine must abandon its aspirations to join NATO and declare neutrality as part of a massive European security agreement between the West and Russia. But, at Washington’s urging, Zelenskiy said he would not abide by the agreement and that most Ukrainians wanted to join NATO. Asia Times.

If the United States does not want to tell Kyiv what to do, nothing prevents other countries from making such an offer to Zelensky. On June 16, Advisor to the Office of the President of Ukraine Oleksiy Arestovich expressed concern that German Chancellor Olaf Scholz, French President Emmanuel Macron and Prime Minister Mario Draghi “they will try to reach an agreement Minsk-3” during a visit to Kyiv.

Germany’s leading centre-right publication World commented it like this: “Kyiv is beginning to doubt the solidarity of the West. There were voices calling for peace”.

The concurrent strategic and economic crises are forcing Washington to look for a way out of the Ukrainian trap.

“We don’t know what the Biden administration will do in the face of this dual disaster. Perhaps she doesn’t know it herself at the moment. But the choice is clear, though not easy. Either move away from the brink, or plunge headlong into a global recession and a deepening strategic crisis, ”

– sums up the author of Asia Times.

Inc. corr. FSK

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