As we've pointed out, the Western countries had eight years between Russia reasserting its control over Crimea after the Maidan Coup in 2014 and Russia invading Ukraine in February 2022.
Eight years and the best they came up with was sanctions that did more harm to Europe than to Russia. And drove China and Russia closer together faster than anyone ever imagined. And destroyed faith in U.S. Treasury debt and Fed currency as inviolate (sans a court order.)
By-the-bye, that last is why we posted, 18 Feb 2022 re: Trudeau and the freezing of the truckers' bank accounts: "Short of War, What Just Happened In Canada May Be The Biggest Story Of The Covid Era ". Once a country crosses that line there is no reason to ever trust them again. The lesson the world took away was don't have assets you can't afford to lose in places they might be frozen.
Anyhoo, here's Elizabeth Rosenberg via Bloomberg, February 1:
- Elizabeth Rosenberg helped shape response to Russia’s invasion
- Program included price cap on Russian oil, bank asset freezes
Elizabeth Rosenberg, a Treasury Department official working on sanctions and financial crime policy, is leaving for the private sector.
Rosenberg, who returned to the Treasury at the beginning of the Biden administration following an earlier posting at the department, was part of a core group of officials, including former Deputy National Security Advisor Daleep Singh, who developed the economic response to Russia’s invasion of Ukraine, including the freezing of sovereign bank assets and the price cap on Russian oil.
Deputy Treasury Secretary Wally Adeyemo called her “an indispensable advisor since day one of this administration.”
“No one is more steeped in the details, more willing to pound the pavement, or more persistent in service of Treasury’s national security goals,” he said in a statement.
Rosenberg traveled to 25 different countries, helping to rally support for the price cap and lean on allies to more strictly enforce sanctions and export controls on goods being shipped to Russia. She also traveled with Treasury Secretary Janet Yellen to the Asia Pacific Economic Cooperation Forum and participated in US-China working groups.
The US and its allies have levied hundreds of sanctions and other financial and economic penalties on Russia, which have hurt growth, oil revenues and trade, but have failed to force Russian President Vladimir Putin to fold. The International Monetary Fund recently upgraded its growth forecast for the Russian economy, citing military spending....
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