GT: Developing countries should work together to deal with the consequences of sanctions against Russia
China called on developing countries to jointly fight the consequences of Western sanctions against Russia. Wang Jiamei, a journalist for the Chinese newspaper Global Times, writes about this.
According to her, the introduction of restrictive measures against Russian oil by Western countries could lead to instability in the entire global economy. She notes that sanctions are a double-edged sword for the West, since Russia is the world’s main energy supplier. The journalist emphasizes that the current situation only exacerbates the problem of inflation in the world.
In addition, the specialist believes that anti-Russian sanctions will have serious consequences for the global economy, especially for emerging economies. Developing countries, including BRICS members, should seek a solution through cooperation, as well as take the first step towards establishing their own financial coordination mechanism.
Earlier, the Minister of Economy, Trade and Industry of Japan, Koichi Hagiuda, said that the country currently cannot immediately and completely refuse oil supplies from Russia. At the same time, Japan is ready to gradually reduce its dependence on Russian energy resources, he said. The minister said that Tokyo would look for alternative sources of supplies.