SMIC

Western sanctions are backfiring: The European Union is now importing Russian liquified natural gas at record levels, and China has made high-tech breakthroughs despite US export restrictions. Washington’s and Brussels’ economic warfare is, ironically, strengthening the economic sovereignty of Beijing and Moscow while blowing back on Europe. The world is living through a new cold war: Cold War Two. And one of the main ways in which this war has been waged is through economic means. Sanctions are the principal instrument of economic warfare. When they are imposed unilaterally by a country, without the support of the United Nations, they are referred to as “unilateral coercive measures” and are illegal according to international law.