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Issue #1659      October 8, 2014


Sanctions against Russia harm Czech economy

Last month once again, the EU took a step to make its own economy weaker, when suggesting more punitive sanctions against the Russian Federation. It continues to restrict its own export and import of the oil industry, goods, technologies of dual use, agriculture products as well as the provision of finance to the Russian state. This new proposal only deepens and extends these sanctions, throwing us, hand in hand with the warmongers, back to the cold war times.

The Communist Party of Bohemia & Moravia rejects this policy. Those who make the decisions obviously don’t take into consideration realistic analyses of their political and economical effects. Trade war is a very bad tool of foreign policy as it only increases tension. Moreover, within today’s globalised world, it is a tool with marginal effect. These sanctions don’t bring the Russian economy to its knees; on the contrary, it can expose Czech exporters to losses amounting to billions of CZK, endangering thousands of jobs. Any possible retaliatory measures in the form of limiting oil or gas supplies would impact the energy industries in a number of European countries, the Czech Republic included. The EU damages its own by this policy.

The Communist Party of Bohemia & Moravia rejects the application of sanctions as well as any self-harming to its own economy. We stand for rejecting the sanctions, or, at least, for applying the reservations as formulated by the Czech government’s Prime Minister. It is necessary for the Czech Republic to protect its own economy, the engineering industry especially. By their decisions, the representatives of Czech Republic shouldn’t force Czech producers and businesses to retreat from prospective Russian markets.

To come back there again, it would be more than difficult as we have already seen in the past. The representatives of both industry and agriculture remember the negative impacts of the sanctions.

It is impossible to give in to the pressure of foreign transnational corporations. The Communist Party of Bohemia & Moravia considers the escalation of these sanctions very dangerous not only for the economy, but also for further peaceful development in Europe. Diplomatic negotiations about peace initiatives as well as about ending the bloodshed in Ukraine we see as the key.

Executive Committee of the Communist Party of Bohemia & Moravia’s CC

Next article – Asking wrong questions about Ebola

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