IN recent days, some interesting developments occurred, stemming from the ongoing war between Russia and the Ukraine. Washington engaged Caracas in its bid to isolate Russia by offering to lift the over 150 sanctions imposed under the Trump administration and resume Venezuelan oil supplies to the US.

It’s Washington’s latest adoption of the traditional Monroe Doctrine ‘Carrot-and-Stick’ approach that offers Venezuela something it wants badly — lifting of sanctions – in exchange for something it’ll have to think hard about.

The US sources only seven per cent of its oil from Russia, but with one eye on escalating prices at gas pumps across America and the other on the upcoming November mid-term elections, President Biden wants to lessen the domestic impact of the sanctions and increase his (and the Democratic Party’s) popularity.

Washington is also courting China to possibly discourage Beijing from responding positively to Moscow’s call for help to overcome the US-led economic sanctions — and military support.
It’s a dicey gamble.

China, with most of America’s debt in its back-pocket and as an equal player on the world stage, shared US $147 Billion in trade with Russia in 2021; and both agreed to increase their trade to $250 Billion by 2024.
China calls for recognising Russia’s genuine security concerns, while also opposing military action.

But Washington has warned of “serious consequences” if Beijing honours its bilateral and mutual trade, defence and security agreements with Moscow.

With Russia already reportedly having built a specially-prepared contingency reserve worth over US $680 Billion (over the last eight years since the Crimea conflict), transferred its US cash reserves into gold, integrated with China’s global banking system and sufficiently weaned itself off dependence on US-led international financial institutions (like the World Bank), it’s hard to see the current sanctions soon grinding the Russian economy to the intended halt.

Never mind the economic sanctions, Russia now has what it always strategically wanted: preventing Ukraine from joining NATO, stopping NATO weapons deployment in Ukraine, a strong military presence on the ground and — most of all, as also admitted by US Secretary of State Anthony Blinken last weekend) — keeping America at bay, as President Biden simply cannot risk sending Americans to fight another foreign war.

But, more than all else, Washington’s courting of Beijing and Caracas, while also urging Saudi Arabia to produce more oil to lessen dependence on Russia, is more-than-enough of a reminder that America, like any other nation, has no friends, only interests.