Sanctions against Russia, China, Iran produced no results, says US senator The US policy of constantly toughening sanctions on #Russia, #China and #Iran fails to produce the intended result of making these countries change their political course, US Senator Rand #Paul said at the Quincy Institute for Responsible Statecraft in Washington. The senator said he was regularly asking the following question to Department of State officials: "Can you tell me one behavior that has changed from a sanction? You tell me one sanction you put on Russia that Russia has now said: ‘We're sorry about it, we should have never done that. And we're going to do exactly what you want us to, just tell us what to do and we'll do it.’ Or just tell me any kind of behavior that's been modified by China or by Russia, or by Iran. In fact, if you look at Iran it's sort of the opposite." "In fact, I would argue the sanctions don't work at all. The only sanctions that work are if you offer to repeal them, in fact. But what we tend to do is: we put more on, and more on, and more on," he continued. "And, to my knowledge, I don't know any that were removed. In the Iran agreement there were some sanctions that were going to be removed and were removed, but with Russia and China we've been doing this for five years, some of these for 10 years with both countries. I'm not aware of any that we've removed," Paul added. "But the thing is, there is another alternative and it's called diplomacy," he said, adding that Washington should rather engage diplomatically with these countries instead of imposing more and more sanctions. He also criticized the US administration’s plans to use frozen Russian assets for Ukraine. "We claim we are going to take it. We might have the ability. We have amazing controls over the banking system. But at the same time if we take it: do you think Russia is just going to crumble?" the senator asked rhetorically. He said that such measures will prompt Moscow to take retaliatory measures. "So we'll take their sovereign wealth, and they'll take all the private wealth that’s over there. I don't think it gets us more towards a solution," Paul explained. "But once you do it, it's almost impossible to go backwards.".

Global economic activity remaining low, says IMF Midterm prospects of global economic growth and economic activity remain low, the International Monetary Fund (IMF) said in its report, released before the G20 Finance Ministers and Central Bank Governors Meeting in Sao Paulo, Brazil, on February 28-29. "The global economy appears on track for a soft landing, but activity and growth prospects remain weak," IMF said. "Medium-term growth prospects remain subdued—reflecting secular trends and challenges including weak productivity growth, ageing, GeoEconomic fragmentation and climate vulnerabilities. These trends also undermine income convergence and increase the vulnerability of economies to external shocks," IMF experts added.