Lift sanctions against Russia, urges Bangladesh Prime Minister

Sheikh Hasina, Prime Minister of Bangladesh has urged the Western countries to lift the sanctions on Russia, saying that millions of people across the world were suffering as the sanctions impacted global supply chains and increased prices food and other commodities.

Because of the US-led sanctions, food prices are skyrocketing and people are suffering everywhere.

“Punishing the people of the world, while trying to punish one country tantamount to human rights violation. This is why I think it is imperative that the US step away from this. I think everybody will want this,” she said while inaugurating a new building of the Ministry of Foreign Affairs in Dhaka.

The comments came at a time when people in Bangladesh are bearing the brunt of rising food, fuel and fertilizer prices and the government is being forced to take austerity measures that include limiting fuel use and electricity generation.

In late February, the Russia-Ukraine war started, bringing more miseries to the world still reeling from the pandemic.

The Western nations led by the United States have frozen about US$400 billion of Russian central bank’s assets and at least US$240 billion belonging to oligarchs. However, Moscow has roughly US$300 billion in foreign currency and gold reserves, and the ruble has now hit a seven-year high against the US dollar.

The UN has warned that Russia’s war in Ukraine could push up to 49 million people into famine or famine-like conditions because of its devastating impact on global food supply and prices.

According Europmonitor.com, global inflation may reach 7.9% in 2022. The average annual global inflation between 2001 and 2019 was 3.8%.

Hasina said the US-imposed sanctions have reduced the availability of goods, including those imported by Bangladesh, while the shipping costs have gone up. Not only in Bangladesh, but people in the US, Europe, UK and the rest of the world are also affected by the sanctions.

People in developing and developed countries are affected by the restrictions, and the US should understand this, she said, questioning if sanctions were effective at all in hurting a particular country.

“The developed countries should think about it.”

She said the Ukraine war and sanctions came just when Bangladesh was recovering from the shock of the pandemic. “This has become a great challenge for Bangladesh to overcome.”

The war should not affect shipping of goods from one country to another and international trade must be uninterrupted, she said.

Bangladesh is trying to increase food production. “But to boost food production, we need fertilizer, diesel and other related materials. We are not getting those.”