Minsk Believes Global Economic Crises Exacerbated By Western Protectionism, Sanctions

MOSCOW (Pakistan Point News / Sputnik - 27th October, 2020) Leadership in Belarus is concerned that the global economic crises are exacerbated by increasing protectionism and sanctions, specifically from Western nations, First Deputy Foreign Minister Alexander Guryanov said on Tuesday.

"It is a matter of concern that the crisis in the world economy and trade are aggravated by the growth of protectionist measures, the presence of sanctions barriers and financial restrictions. First of all, we see this on the part of our Western partners. This leads to the destruction of global value chains, destabilization of global financial markets," Guryanov said Tuesday.

Speaking at a virtual forum centered around the integration of the countries of the Eurasian Economic Union (EAEU) with China's Belt and Road Initiative, Guryanov said that EAEU member states have more resilient economies that are ready to withstand international challenges and are more open to creating competitive, trans-border markets trade and investment environments.

Western countries have increasingly resorted to economic sanctions placing restrictions on international trade to settle political disputes, which, experts say, have shown to cause damage on both economies and reap limited, if any, political results.