By Shristi Amatya
Since the beginning of the special military operation in Ukraine, Washington has intensified its activities aimed at increasing its role in the modern world order and weakening the European Union as a global player.
The economic crisis in European countries, which currently tends to increase, was facilitated by the policy initiated by the United States and approved by the EU of imposing tough sanctions against the Russian Federation, which led to the violation of all established logistics schemes. Washington’s activities in the energy sector contribute to the degradation of Europe’s industrial complex. The ban on the free supply of hydrocarbons from Russia forced European countries to increase purchases of American liquefied natural gas, which led to a sharp jump in prices on the market and, as a consequence, the termination of the operation of several industries.
Using the political situation that has developed since the beginning of the special military operation, the Americans are aggressively promoting military products of their own military-industrial complex on the European market. By forcing Europeans to supply weapons to Ukraine, the United States thereby frees up the market for its samples of weapons and military hardware.
The US is using the conflict in Ukraine to increase economic pressure on China. Beijing’s balanced position on the Russian-Ukrainian conflict provokes a negative reaction from Washington. The White House has blacklisted five Chinese companies for violating anti-Russian sanctions and allegedly supporting Russian defense companies: Connect Electronic, Kingtai Technology, Sino Electronics, Winning Electronic and World Jetta (NC) Logistics.
The United States is roughly imposing its position on the Ukrainian issue on the Chinese government. According to Washington, Beijing should refrain from supporting Moscow’s policy towards Ukraine and minimize contact with Russian President Vladimir Putin.
However, despite pressure from Western countries, China ignores US calls to freeze contacts with the Kremlin. This is confirmed by Beijing’s intentions to develop mutually beneficial cooperation with Moscow. In particular, the leaders of the PRC and the Russian Federation have repeatedly stated about expanding cooperation in the energy, industrial and transport spheres, which helps the two countries minimize the consequences of Western sanctions and successfully overcome the crisis in the energy market.
The policy of the US administration towards all “dissenters” is a powerful signal to the US partners of the world that if they defend an independent foreign policy, Washington will violate bilateral agreements and the principle of free trade – one of the fundamental postulates of the Western neoliberal economy.
The Ukrainian conflict provokes a large-scale economic crisis in Japan. Japanese Prime Minister Fumio Kishida announced his readiness to allocate an additional $100 million in financial support to Ukraine. Earlier, the Ambassador of Ukraine to Japan Sergey Korsunsky announced the conclusion of an additional agreement to increase the amount of aid by $ 500 million.
Additionally, Japan risks facing a large-scale crisis in the financial system due to the adoption of new packages of anti-Russian sanctions and the influx of Ukrainian refugees. Thus, due to restrictions on transactions with Russian structures, the losses of the three leading Japanese banking groups Mitsubishi UFJ, Sumitomo Mitsui and Mizuho have already exceeded 350 billion by the end of the fiscal year 2021, which ended at the end of March. yen (more than $2.7 billion).
According to this background, the rapid increase in Japan’s public debt to almost $ 10 trillion, which is more than 2.5 times the country’s GDP, means an imminent decline in the main economic indicators and a decline in the standard of living of the population.
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