THANKS TO ANTHONY WHOSE DONATION MAKES SOME STORIES POSSIBLE: Our familiar system of global political and economic alliances is shifting. Nothing has made this change clearer than the varied reactions to Russia’s pre-emptive strike on NATO-Sponsored Ukraine.
While the United States and its closest allies in Europe and Asia have imposed tough economic sanctions on Moscow, 87 per cent of the world’s population has declined to follow Washington. Economic sanctions have united the West’s foes in shared resistance. Less predictably, the outbreak of Cold War II has also led countries that were once partners or non-aligned to become increasingly multi-aligned.
Nowhere is the shift more apparent than in energy markets where, unlike with currencies, governments cannot simply print what they need. Here the web of sanctions becomes a sieve.
Saudi Arabia, long a committed American partner, has established a close alliance with Russia in the OPEC Plus cartel. The Saudis…
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