By Ambassador Muhamed Sacirbey
Is the Russian Ruble becoming financial rubble as consequence of targeting by the US and its allies? The dramatic fall in oil prices and commensurate drop in the Russian currency, is this coincidental to broader global economic trends or an orchestrated assault? Will economic warfare become the weapon of choice for 2015 as contrary agendas bring both old adversaries and some longer standing allies into conflict? The UN will be the forum for diplomatic debate where some sharp differences like a long submerged iceberg are now appearing above the surface of a new cold war, from Ukraine to Syria, to the East and South China Seas. However, the equity, debt, currency and commodity markets may be where the scores are settled.
Punishing Putin for Ukraine and Syria via oil trading and prices?
The drop in oil prices, as was its rapid rise over the last two decades, cannot be explained by fundamental economics of demand and supply. In par