War in Ukraine

Stephen Walt elaborates on what he is expecting for 2024:  the Israel-Gaza conflict widening, the 75th anniversary of NATO, the possible re-election of Donald Trump, and the election results from other populous democracies, to name a few.

The following is an event write-up about the recent Future of Diplomacy Project (FDP) seminar on “The Geopolitics of Latin America amid the War in Ukraine and China-U.S. Tensions” moderated by Negah Angha, Fellow at the Institute of Politics, on March 29, 2023.

The collective West is right to take Putin’s nuclear threats seriously, but efforts to dissuade him require the pro-active involvement of China and India.

The surprising strength of economic sanctions deployed multilaterally against Russia this month has been exceeded only by the surprising strength of the heroic Ukrainian resistance to the invasion of their territory.  True, it is hard to imagine sanctions bringing the Russian economy to its knees faster than Russian troops are able to complete the hundred-mile advance to Kyiv from the border.  But sanctions have gone macroeconomic.  Ultimately, the Russian economy will suffer severely and lastingly.

Russian military action in Ukraine could trigger an energy crisis even more serious than the one already hitting Europe. As has been pointed out, should the West hit Russia with severe new sanctions, President Vladimir Putin could cut off natural gas exports, leaving the continent shivering through midwinter. Yet there is another potential weapon of Russia’s that’s been less discussed and might be very effective: An ability to disrupt global oil markets, which would directly hit U.S. consumers.