ISLAMBAD (INP): The Pakistan Economy Watch (PEW) on Monday said the United States, after failing to subdue Russia, is making the world a living hell through flawed policies and weak sanctions.
Russia’s concerns and a viable solution to the war is being ignored by the west, which is further exacerbating the situation, it said.
Sanctions on Russia are not working, its economy is showing signs of resilience while the US and EU economics are being affected, said Dr. Murtaza Mughal, President PEW.
He said that the renewed Cold War by the United States and its allies has led to rising inflation, unemployment, and interest rates in these countries and reduced production which has resulted in heavy losses.
People around the world are being influenced, as the US and allies have mistaken Russia for a weak country, which is costing it dearly. The US economy is now heading towards a recession, which will have repercussions for the rest of the world, he said.
Dr. Murtaza Mughal said that US sanctions on Russia are meaningless as they have failed to break the resolve of Putin. European countries are still paying Russia $1.5billion a day for oil and gas because they have no other option.
Dr. Mughal said that the United States had imposed sanctions on a small country like Cuba sixty years ago, but so far it could not create public unrest there, nor has it been able to bring in cooperative government.
North Korea has been under sanctions since the fifties, which have been tightened over time but have not forced leaders of the country to change their style. Forty-three years ago, Iran was sanctioned, but to no avail.
He said that Pakistan has remained neutral in the dispute, which was a sensible move. A former political figure was risking national security for cheap fame, which should be noted, he demanded.
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