Russia in Cyprus

Cyprus has now agreed to allow the Russian Navy to use its ports and is in discussions with the Russian Federation to use Cypriot airports to provide a base for Russian aircraft that are involved in providing humanitarian relief.  Continue reading

Free Trade Becomes Less Free

Free trade has been the mantra of all major economies for many years. Of course many economies protect their markets subtly, and free trade does not stop governments from adjusting things like environmental and tax laws in order to favour their own businesses, but nevertheless there is less protection of domestic industries now than there has ever been. Continue reading

Sanctions Can Be Tantamount to a Declaration of War

Economic sanctions issued to prevent war or deter what are regarded as bad regimes often lead to war. Leaders of today should learn their history. In August 1941 the United States of America issued sanctions against Japan. Japan had been fighting in China and the Far East and had embargoed war supplies from the US into China. In retaliation the US embargoed all oil exports to Japan (who had at that stage only six months to two years stock left depending on whether you accept conservative or liberal estimates) and blocked all US credit and capital to Japan. A year earlier the US had closed the Panama Canal to Japanese Shipping and embargoed the sale of iron and scrap iron to Japan. Continue reading