President Biden’s pausing of the sanctions on the Nord Stream 2 Pipeline and his bungling ‘minor incursion’ speech may have given the Russian President the impression he could do whatever he wanted without large-scale consequences. The Russian people are now paying for his mistake.
The West has imposed massive sanctions on the country, with large corporations like Google and Apple ceasing operations within Russia’s borders. Various countries have banned commodities from Russia, ranging from energy to wheat. Massive amounts of assets have been seized from Putin and his associates. Russian athletes have even been banned from competing in international competitions. In the short-term, these actions have not resulted in an end to the hostilities. The United States and its partners view this as a long-term strategy, with the plan to engage in another cold war with Russia.
This may not be a winning strategy given the current state of the world. The international order is much different than it was in the 1980s.
Putin can sell his commodities to China and India, countries with huge populations and robust economies. Russia also does not have to engage in a tit-for-tat arms race with the US if its alliance with China holds.