PRESIDENT Vladimir Putin said that Russia will never yield to any external pressure as US Secretary of State John Kerry yesterday said that new “serious sanctions” against Russia were being considered over the conflict in Ukraine. In a reception to mark the upcoming Defender of the Fatherland Day, Putin shared his confidence in Russia’s military to protect the country from outside threats, Xinhua reported yesterday.
“No one should have any illusions that it could achieve military supremacy over Russia or to put pressure on us in any form,” Putin said on Friday. Adding that his forces would always have an ‘adequate response’, he vowed to step up an ambitious military modernisation, with hundreds of new combat jets, missiles and other weapons. His remarks came as Russia’s relationship with the West seemed to hit its lowest point due to the ongoing crisis in eastern Ukraine.
The West has been criticising Russia for its intervention in Ukraine, allegations Moscow has continued to deny. The US and the European Union have imposed several rounds of sanctions against Moscow, which has cost the Russian economy heavily. In London, Kerry said the US and Britain are considering deepening sanctions against Russia due to its “craven behaviour” in Ukraine.
The remarks by both parties are yet another show of verbal muscles as the West continue to accuse Russia of meddling in Ukraine. Pressure has been applied on Russia by the US and its allies, one example being the continued glut of oil production by Saudi Arabia which has hit the Russian economy hard as Russia earns a lot from its oil exports — its economy is expected to shrink by at least 4-8 percent in 2015. The government wants to spend money on defense and pensioners, among others, but Russia’s wealth will not last forever. Inflation is on the rise due to Russian sanctions on food imports and prices of staples such as potato and sugar have gone up by 15-40 percent.
All of these spell trouble for the long suffering Russian people. The effects of a reduction in economic growth and high inflation brings about a phenomena known as stagflation — a situation characterized by both higher prices and lower real incomes — all the while both the West and Russian leadership continue to harp on their right to defend themselves from foreign aggression. Meanwhile the Russian government have no real plans to restructure their economy — which is heavily dependent on raw material imports to earn needed foreign exchange. While Putin would not be so foolhardy so as to directly attack the West, he will continue to send covert aid to Ukrainian Russian separatists. This will result in more sabre rattling and jingoist talk — but ultimately no real war will occur. The world should be prepared for another spell of the Cold War era of the 1950s.
