Food crises, economic stagnation and price increases are worsening unevenly, almost everywhere, following the Ukraine war. Sanctions against Russia have especially hurt those relying on wheat and fertilizer imports. Unilateral sanctions illegal Unilateral sanctions – not approved by the UN Security Council – are illegal under international law. Besides contravening the UN
Author: Anis Chowdhury & Jomo Kwame Sundaram, IPS
Sanctions now weapons of mass starvation
US and allied economic sanctions against Russia for its illegal invasion of Ukraine have not achieved their declared objectives. Instead, they are worsening economic stagnation and inflation worldwide. Worse, they are exacerbating hunger, especially in Africa. Sanctions cut both ways Unless approved by the UN Security Council (UNSC), sanctions are not authorized
Financialization at heart of economic malaise
Anis Chowdhury & Jomo Kwame Sundaram COVID-19 has exposed major long-term economic vulnerabilities. This malaise – including declining productivity growth – can be traced to the greater influence of finance in the real economy. The deep-seated causes of the current resurgence of inflation, inequalities and contractionary tendencies have not been addressed. Meanwhile,