Roelof Botha | SA stance on Russia battered the rand, but we may have even bigger problems | Business

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OPINION | What is more concerning than a temporary exchange rate depreciation is the possibility of sanctions by the US and the European Union, writes Roelof Botha. | News24_Business

The drama surrounding South Africa’s alleged supply of weapons to Russia has now spread from the diplomatic arena to the likely impact on the economy.

The extent of global opposition to Russia’s invasion of Ukraine is also illustrated by the fact that only one country in the Middle East bloc of 16 countries voted against the resolution , whilst only one abstained . Furthermore, of the 32 countries that abstained from voting, only two countries, Namibia and South Africa, have Global Freedom Index scores of above 70.

After the demise of the Soviet Union, a free and democratic Ukraine had served as an example for the Russian population, which, according to Shishkin, is why it is so important for Putin to destroy the country. The latter is based on a draft document prepared in February 1992 by then US Under-Secretary for Defence, Paul Wolfowitz. The document outlined suggestions for US security policy that contained elements of unilateralism, including pre-emptive military action to suppress potential threats from undemocratic nations.

 

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