Western countries' latest round of isolation of and sanctions against Russia further dim the prospect of peace talks, and will only lead to more bloodshed, more sacrifice during the Russia-Ukraine conflict, and more property loss worldwide, said Chinese experts after Western countries attempted to frame a statement condemning Moscow at the G20 gathering, and the EU slapped a new round of sanctions against Russia.
In order to provide a solution for the current deadlock, China on Friday unveiled a peace plan on solving the crisis. The plan, although widely welcomed by relevant parties, was smeared by the US as "not rational." Experts believe the groundless accusations exposed the US' selfish desire of not wanting the conflict to end, and its attempt to dwarf China's influence on negotiating global affairs.
In a two-day gathering of G20 finance ministers in Bengaluru, India, which ended on Saturday, some members were plotting to sign a joint communiqué to denounce Russia on its conflict with Ukraine. But the effort failed due to opposition from Russia and China, and India also shied away from making a clear point whether to join the condemnation, media reported.
Meanwhile, The EU and some Western countries, including the US and the UK, slapped a new round of sanctions against Russia in the nick of time on Friday, including further export bans worth more than $11.6 billion, sanctions on about 120 Russian individuals and entities and a new reporting obligation on Russian Central Bank assets, according to a document published by the EU on Saturday.
The slew of sanctions are anticipated to have very limited impact on Russia. "They are just diplomatic and symbolic gestures from the Western countries to vent out their frustrations," said Li Ziguo, a senior research fellow with the China Institute of International Studies.
Western nations have already exhausted their repertoire of sanctions against Russia, including sanctions on Russia's crude oil and natural gas.
"The decoupling of energy and trade between Russia and Europe and the US was long formed after the first rounds of sanctions," Li noted. Russia, on the other hand, is also working out ways to offset the impact of West's sanctions, said Li.
Russia's economy contracted by 2.1 percent in 2022, the federal statistics service said on Feburary 20, shrinking less than anticipated despite the sanctions.
Further isolating Russia on the international stage and slapping sanctions have only made prospects of peace talks or using political means to solve the conflict dim, Zhang Hong, an associate research fellow at the Institute of Russian, Eastern European and Central Asian Studies of the Chinese Academy of Social Sciences, told the Global Times.
"Such impulse actions may help Western countries vent out their frustration and feel better for a minute, but it will cause more bloodshed, more sacrifice and bigger property loss as it further fuels the conflict," said Zhang.
Several hundred protesters gather for an anti-war demonstration to oppose US military aid to Ukraine in front of the Lincoln Memorial in Washington DC on February 19, 2023. The rally's organizers and speakers also called for the Pentagon's budget to be slashed and NATO to be disbanded. Photo: VCG
China offered solution for peace