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Tag: Ukraine conflict

  • Putin is close to victory. Europe should be terrified

    Putin is close to victory. Europe should be terrified

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    With the Ukraine conflict languishing in stalemate, the possibility that Russian president Vladimir Putin might yet emerge victorious from his ill-judged invasion cannot be ignored, with all the implications such an outcome would have for Europe’s security.

    Ukraine’s failure to make a decisive breakthrough in its counter-offensive during the summer has all but silenced the optimistic predictions made by Ukrainian president Volodymyr Zelensky and his senior commanders that victory was within Kyiv’s grasp. Instead, the Ukrainian narrative is in danger of descending into recriminations over the refusal of its Western allies to provide Kyiv with the weaponry required to break the impasse on the battlefield. As the Ukrainian leader remarked in a recent interview, “We didn’t get all the weapons we wanted, I can’t be satisfied.”

    The lack of military progress, together with the eruption of hostilities between Israel and Hamas in Gaza, has certainly deepened the sense of scepticism among some Western leaders over Ukraine’s ability to prevail. There is a growing sentiment within the Biden administration, for example, that its interests would be better served by pressuring Zelensky to sue for peace, rather than persisting with a military campaign he stands little chance of winning.

    Meanwhile, Putin is intensifying his efforts to reclaim the military advantage, using the country’s strong oil revenues to militarise the Russian economy, which has led to a significant increase in weapons production. Putin has also authorised a 170,000 increase in the size of the Russian military. He hopes this will aid its efforts to seize key strategic targets, such as the eastern town of Avdiivka in the Donbas region, the scene of recent heavy fighting between Russian and Ukrainian forces.

    The notion that, 21 months after Russia invaded Ukraine, the Russian military would still be capable of mounting an offensive seemed inconceivable only a few months ago, after Moscow had suffered a series of devastating setbacks. And while it still remains highly unlikely that Putin will be able to fulfil his goal of conquering all of Ukraine and establishing a puppet regime in Kyiv, any conclusion that results in the Kremlin retaining significant areas of Ukrainian territory will be hailed as a victory.

    Such an outcome would present a significant challenge for the Western alliance, as its ability to withstand Russian aggression would be open to question after all the military support it has given Ukraine. It would also encourage Putin in the belief that he could undertake further acts of aggression on Nato’s eastern flank, safe in the knowledge that the West had neither the resources nor resolve to resist the Kremlin’s expansionist aims.

    The prospect of Russia intensifying the threat it poses to European security in the event of Putin achieving only modest gains in Ukraine has prompted a number of prominent European military experts to question openly Nato’s preparedness for meeting such a challenge. A recent defence conference in Berlin was treated to a doomsday scenario whereby Europe risked suffering the same fate as the Holy Roman Empire under Napoleon, and being “washed away” in a future conflict with Russia because of Nato’s inability to defend Europe’s eastern flank.

    Sönke Neitzel, one of Germany’s leading military historians, claimed that it could take 15 years before his country was capable of defending itself against Russia. His sentiments were reinforced by Jacek Siewiera, the chief of Poland’s National Security Bureau, who warned that Nato had as little as three years to prepare itself for a Russian attack on its eastern flank.

    And yet, despite the obvious threat Moscow poses, Western leaders appear disinclined to credit it with the seriousness it merits. The argument made during the early stages of the Ukraine conflict – that ensuring Russia suffered a heavy defeat would dissuade Putin from further acts of aggression – has been replaced by war fatigue, and a desire to end hostilities at all costs, even if it leads to an emboldened Russia.

    Nor has the West’s response to the conflict engendered better co-operation in the defence sphere. Commenting on the stalemate in the Ukraine conflict, the secretary general of Nato, Jens Stoltenberg, recently lamented the fragmented nature of Europe’s defence industry. “We are not able to work as closely together as we should,” he said, warning that the inability of European nations to pool resources could undermine efforts to maintain ammunition supplies to Ukraine.

    The failure to afford the Russian threat the seriousness it deserves is evident in Britain, too, where analysis of Jeremy Hunt’s Autumn Statement last month suggests the Government is unlikely to fulfil its pledge to raise defence spending from 2 per cent to 2.5 per cent of GDP, a key requirement for making our Armed Forces better-equipped to counter the Russian threat. Not only, it appears, is Europe preparing to let Ukraine lose the war: it has little appetite for defending itself against future acts of Russian aggression.

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  • India will have a difficult task as G-20 chair, says IMF chief economist

    India will have a difficult task as G-20 chair, says IMF chief economist

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    India, which will hold the G-20 presidency next year, will have a difficult task as the group’s chair to bring countries together on some of the key challenges being faced by the world, Pierre-Olivier Gourinchas, the chief economist of the IMF, said on Wednesday.

    “One of the challenges for the G-20 right now, as we’ve seen, is of course how to deal with geo-economic fragmentation. And geo-economy fragmentation is just reflecting the fact that we’ve seen enormous tensions following the Russian invasion of Ukraine,” Gourinchas told PTI in an interview.

    “To some extent to the G-20, it’s much harder to have these kinds of conversations around the common goods in the current environment because there is all this tension related to geopolitical considerations. And so, India will have a difficult task, but also, I would think one of the important objectives will be to keep the countries at the table, to keep the discussion going, keep progress being made on important issues,” he said in response to a question.

    Describing G-20 as a very important institution, Gourinchas said the group is the one place where there is governance representing the majority of the global economy coming together.

    It is not just a group of rich countries. It is really something that has multiple voices. A lot of progress can be made by G-20, he said.

    “One of the things that we talk about quite often in the context of the G 20 is the common framework. It’s a very important initiative. It’s still finding its footing. We at the fund are somewhat frustrated with sometimes a lack of progress on the common framework,” he said.

    But it’s a really important initiative that could be made at the level of the global community, coming together and finding ways in which sustainability problems could be addressed, the chief economist said, adding that that is something which the IMF is looking at very closely.

    Observing that at a venue like the G-20, multilateralism can really have discussions on common goods and make progress and common goods, Gourinchas said: “So what are the common goods that where progress could be made? Prominent among those include the issue of climate change and debt sustainability.”

    Digitalisation, he said, is very much at the forefront. “The whole issue of how the emergence of digital currencies, crypto assets, how is this going to stabilise, destabilise? How should we be doing? There are enormous externalities at the global level regarding the emergence of these new instruments. So how are we as a global community should we organise this space,” he said.

    “Should we regulate it? How should it be regulated? The cross-border aspect is going to be very important. So that’s obviously a common good,” Gourinchas said. 

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