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ECONOMY | 11-05-2022 15:59

President Fernández questions economic sanctions against Russia

Peronist leader, speaking in Berlin, says Russia should remain in the G20 and that sanctions on the country over Ukraine war are having “negative repercussions for Argentina and the world.”

President Alberto Fernández cast doubt over the worth of economic sanctions against Russia on Wednesday, highlighting their fierce global impact on food and energy prices. 

Speaking after a bilateral meeting with German Chancellor Olaf Scholz in Berlin, Argentina’s president described Russia’s invasion of Ukraine as “immoral” and called on all parties to work towards “a solution to the armed conflict.” 

He did, however, differ from his German host in highlighting the negative impact of economic sanctions for countries across the globe.

"Argentina objectively does not have many economic sanctions to apply because the economic link with Russia is nil,” said Fernández, when asked about steps that put pressure on Moscow to end the attack.

“The economic sanctions applied to Russia have negative repercussions for Argentina and the world, and that is why I insist that we have to find a quick way to find a solution to the armed conflict," he continued.

"This is not a conflict between NATO and Russia, it has transcended those limits. It is affecting the whole world and the world cannot look on unmoved,” said the president. “Beyond repudiating the aggression that Ukraine is suffering, we must look for ways to put an end to this war. It is immoral to unleash a war that continues to take lives after the pandemic.”

The Peronist leader also argued that Russia should continue to be part of the G20, despite a number of nations wishing to evict it from the global body. Fernández said such a move would allow other nations to "explain to them everything that the world is suffering as a result of the decisions that the country has taken."

For his part, Scholz welcomed Argentina's position at the United Nations in repudiating the invasion of Russian troops on Ukrainian territory and for its “condemnation” of Moscow in international forums.

“President Fernández and I agree in condemning this brutal aggression by Russia and the extremely serious violations of international law, which must not and cannot go unanswered,” said Scholz. “That is why Germany supports Ukraine and I thanked the president for the determination with which Argentina supported the condemnation of Russia in international forums."

He added: "It is a war that affects us all, which we want to put an end to. We are also aiming for a ceasefire and for Russia to withdraw its troops from Ukraine. We want a peace agreement between the two countries."



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