US foreign policy

Earlier this month, two American supersonic fighter jets flew over Georgetown, the capital city of Guyana. The US show of force is not only for the attention of Venezuela’s socialist regime who has been escalating toward a military conflict with its smaller neighbor since at least September 2023 when Nicolás Maduro returned from Beijing. The message of sending two F/A-18 Super Hornets flying from a nuclear-powered aircraft carrier sailing in the Caribbean Sea is also for the Islamic Republic of Iran. At first glance, the Venezuela-Guyana conflict is about a century-old border dispute of a dense territory called the Esequibo that makes up two-thirds of Guyana’s land mass but only 15 percent of its population.

The US crackdown on trade finance for Russia from international banks — designed to impede imports needed for the continuing assault on Ukraine — is biting hard, reports the FT, quoting an investor who thinks “the logical endpoint of this is turning Russia into Iran.” Quite right too: sanctions like these are a vital non-military way to hobble Vladimir Putin’s campaign. But war and finance intersect in many different ways. Consider also the fate of 400 western-owned commercial aircraft that were leased to Russian airlines before the invasion in February 2022. Now stuck in Russia or its satellites, unmaintained to western standards and unfit to fly back into our airspace, they’re a potential multibillion loss for their owners and insurers.

After thirteen months of war, Ukraine’s infrastructure is in a dire state. Its armies are preparing for a counteroffensive, and its economy is not likely to fare any better this year than it did in the last. Kyiv will need more money from the West — and the West will have to provide. The need is clear, but the will, in the United States and Europe, less so. Thankfully there is a way around this looming problem, courtesy of the Central Bank of the Russian Federation.  Representative Stephanie Bice of Oklahoma has submitted the Make Russia Pay Act, which authorizes the federal government to seize, deem as forfeited, and liquidate Russian assets that are currently frozen in the US.