THE STAGGERING TOLL OF WESTERN SANCTIONS

Control of the western financial system through the dollar and SWIFT is a stranglehold on those countries wanting to disentangle themselves from 'the west'. 



'Hunger and deprivation are not an accidental by-product of Western sanctions; they are a key objective. This is clear from a State Department memo written in April 1960, which explains the purpose of US sanctions against Cuba. The memo noted that Fidel Castro – and the revolution more broadly – enjoyed widespread popularity in Cuba. It argued that “every possible means should be undertaken promptly to weaken the economic life of Cuba,” by “denying money and supplies to Cuba, to decrease monetary and real wages, to bring about hunger, desperation and overthrow of government”.

The power of Western sanctions hinges on their control over the world’s reserve currencies (the US dollar and the Euro), their control over international payment systems (SWIFT), and their monopoly over essential technologies (eg satellites, cloud computation, software). If countries in the Global South wish to chart a more independent path towards a multipolar world, they will need to take steps to limit their dependence in these respects and thus insulate themselves from backlash. The recent experience of Russia shows that such an approach can succeed.'



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