Doing Nothing Would Be Costlier, PN MP Warns After Clyde Caruana Criticises Russia Sanctions
Shadow economy minister Ivan J Bartolo has defended the West’s regime of sanctions against Russia after it came under criticism from Finance Minister Clyde Caruana over the economic impact it is leaving on European workers.
Speaking to Lovin Malta, Bartolo said that while Caruana’s statement carries “a certain amount of validity”, he firmly believes that Europe would have ended up paying a heftier price had it not imposed sanctions on Russia following its invasion of Ukraine.
“No way could the European values we all believe in allow us to sit back and do nothing,” he said. “I think society would have suffered different consequences and we’d have ended up paying a greater price.”
“What kind of example would it set to youngsters if we just sit back and protect our own interests as a country is invaded?”
In Parliament this week, Caruana questioned the efficacy of the Russian sanction regime, noting that Russia is currently selling its oil at a discounted price to non-Western nations while European countries are facing inflation levels that haven’t been seen since the 1970s.
“The goal of sanctions is to hurt another country, but are these sanctions only hurting that country or the workers of the country which is imposing the sanctions to begin with?” he asked.
Russian President Vladimir Putin
“If you look at the numbers, it seems that people from countries imposing those sanctions are hurting more than those who are meant to be suffering the brunt.”
Caruana also predicted a wave of support for “extreme” political parties and a potential political earthquake across Europe.
However, Bartolo retorted that Caruana is actually trying to use the Ukraine war to mask the government’s own shortcomings in failing to adequately diversify the economy and in allowing corruption to fluorish.
“While the government handled COVID-19 well, it also leveraged the pandemic to hide its own financial problems. It masked the country’s deficit and debt levels behind the money it had borrowed because of COVID-19, when it had also borrowed money to finance corruption.”
“I wouldn’t like to see the government use the Ukraine war to mask its own shortcomings from a financial point of view.”
“After all, the government didn’t create any new industry and has had to stop selling passports [to Russian nationals], while the deficit and debt have increased.”
“I firmly believe that it is always leveraging international crises to mask is own shortcomings and lack of honesty on national problems.”
Ukranian President Volodymyr Zelenskyy addressing the Maltese Parliament earlier this year
On a wider scope, Bartolo argued that while European workers are suffering as a result of food and energy inflation, the sanctions have also hurt Russian oligarchs and dented the popularity of Russian President Vladimir Putin.
He also said the war could serve as a “wake-up call” for European nations to stop depending on Russia for essential food and energy products.
“Europe is effectively starting to deal with the single point of failure it had created in terms of how we depend on Russia for energy and food, and is finding alternative sources. “
“Clyde Caruana is focusing on an immediate narrative that might give him fuel to tell people ‘I told you so’ if the Maltese economy gets hit in six months’ time but there’s always a positive side to the story too.”
Cover photo: Left: Finance Minister Clyde Caruana, Right: Shadow Economy Minister Ivan J Bartolo, Inset: Russian President Vladimir Putin
Do you think the West’s policy of sanctions against Russia is working?
READ NEXT: 'Football Clubs Should Be Represented By Role Model, Not Disgraced Former Prime Minister,' PN MP Says
