![]() ![]() Russia has responded with an export ban covering more than 200 products. But companies expected that doing business inside Russia would become extraordinarily difficult and also did not want to get on the bad side of governments around the world participating in the sanctions. ![]() Not all were forced to take action because of the sanctions. In the wake of these unprecedented sanctions, many non-Russian companies have reduced, suspended or eliminated operations in Russia. The value of the yachts runs into the billions of dollars. Wealthy Russians targeted by sanctions also saw yachts moored outside Russian territory seized. Many countries froze accounts owned by Russia’s central bank and also accounts owned by prominent wealthy Russians. Measures included cutting Russia out of the international payments system called SWIFT, blocking Russian exports (except most commodities) and discouraging commerce of many kinds with Russia. Instead, they orchestrated one of the most comprehensive economic warfare schemes ever devised. When Russia attacked Ukraine, the other great powers did not send soldiers and tanks. The battlefield for this war is worldwide it’s just that it is primarily an economic battlefield. For now World War III appears to have started with Russia’s attack on Ukraine, but without nuclear missiles so far. ![]() We cannot know if such prophesies will ultimately come true. Movies and books have often portrayed World War III as either the final chapter of the human epoch or as a new but primitive restart for those who survive the nuclear conflagration. ![]()
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