Diplomatic and Economic Sanctions and International Trade

The well-crafted Bustamante Code on Private International Law did not accommodate notions of sanctions as instruments of power politics that would affect international relations inexorably.

Rather, it framed the synthesis for international trade relations that foster healthy trade relations among subjects of international law and quasi subjects, like multinationals and lesser players on the international finance circles.

The festering Russo/US/European states imbroglio over Ukraine has led to mutually destructive anti-international trade ripostes.You do not cut your nose to spite your face.

One wonders how much intellectual energy has been deployed into the sanctions geopolitics before declarations that frightfully touch the hearts of those, who live by buying and selling and they play no politics!

It is not enough to sound tough or uncompromising as politicians. Businessmen must be conscious of the status of their balance-sheets and of course, they must still pay their taxes as and when due!

There has been unrest in the Boardrooms from Wall Street to the City of London as politicians play Russian roulette, while their accountants report marginal profits and losses.

In this politics of sanctions, who gains and who loses and who cares about political games of name-calling, which does not butter the bread?

The Europeans depend on the Russian economy, just like Russia benefits from Euro/Russian trade for mutual benefit.

SChem chot ni shutit?

Written by
Emmanuel Omoh Esiemokhai
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