Jim Rogers: "America Is Shooting Itself In The Foot" Over Russia

Tyler Durden's picture

There is no reason for Russia to worry about the western sanctions it is facing now over the Ukrainian issue since "Moscow has too many other trade partners to work with," Jim Rogers explains in this interview, adding that "America is shooting itself in a foot getting the most of our world to pushing China and Russia closer together." Simply put, he warns, "I don’t see any sanctions strategy that they can use that will hurt Russia worse than it will hurt the people imposing those sanctions."

Via Voice Of Russia,

Could China’s decision to purchase superjet planes be viewed as a gesture of support following a series of sanctions imposed by the West against Moscow over the Ukrainian issue?

Of course it is. I’m an American, so I hate to say this, but America is shooting itself in a foot getting the most of our world to pushing China and Russia closer together. And you are going to see more and more trade between the two. And that makes the sanctions against Russia almost impossible, because there are other people who will not play.

And are there chances for the Russia Sukhoi Superjet planes to compete with other major plane-makers?

I don’t think that the Russians have enough to compete with Boeing planes yet. But you are certainly getting better. I mean, as far as cargo planes, you are probably better than anybody else. And if people are forcing you or forcing other people to buy from you, then, of course, your costs will go down, your quality will get better and it will only benefit Russia, but not benefit Europe or America.

 

I think that’s one reason Europe and America are a little hesitant to do too much about the sanctions, because they know that they may lose more than they will gain.

And there are some articles on the Internet right now where different experts say that the sanctions imposed by the EU and the US could be bad only for them. What do you think about this sanctions strategy that the US and the EU are using with respect to Russia?

I don’t see any sanctions strategy that they can use that will hurt Russia worse than it will hurt the people imposing those sanctions. You have many people who will trade with you – China, Iran, many of your neighbours. America cannot patrol all of those borders. You can get just about any products you need. Plus, some of the products that you sell, other people need them very-very badly, such as natural gas and some of the metals.

 

I think Mr. Obama is making the fool of himself yet again. After all, Mr. Obama is the one who instigated the coup in Ukraine where there was an elected Government. Mr. Obama, his diplomats are recorded and we have recordings of them saying – we’ve got to do something about this Government. And then, when it went against him, he got angry. And I’m afraid he is going to shoot himself in the foot yet again.

And if we come back to this Sukhoi Superjet deal, does it mean that Moscow is switching to the eastern market and what are the other Asian countries that Moscow could cooperate with in the nearest future, apart from China?

Of course, Russia is being forced to look east and not necessarily because they want to, but because they have to. If people are going to impose the sanctions and if you look to the east, you’d see who is out there, who may or may not trade with you. Not just North Korea, not just China, some other countries –Myanmar, Thailand, Vietnam certainly will, Indonesia certainly will. So, many people that don’t have problems with Russia these days, they will be happy to trade with Russia.

So, this decision to purchase these superjet planes is a gesture of support followed by the sanctions. And what about China’s trade with Ukraine in this regard? Will they stop any economic relations with Ukraine?

I doubt it. I don’t know why they would. I mean, they don’t want to be involved in a trade war. So, I don’t see why most Asian nations would cut off Ukraine or Russia, or anybody else. This is the fight Mr. Obama has picked and, perhaps, to some extent Mr. Putin. But I don’t know why China would stop trading with Ukraine, I don’t see that at all.