Comment by helterskelter
2 months ago
The US wielding the sanctions banhammer the way they have been recently will only weaken its power over time and create opportunity for economic rivals like China. Every time they (mis)use it they create incentive for people to create alternatives to the US financial system. You won't see sanctions become completely completely toothless overnight, but I could see in maybe 15-20 years that getting around US sanctions will be a mere inconvenience.
> The US wielding the sanctions banhammer the way they have been recently will only weaken its power over time and create opportunity for economic rivals like China.
China is not party to the Rome Statute, just like the US and Israel, I would expect they would retaliate against the ICC if the ICC issued an arrest warrant for Xi Jinping.
> Every time they (mis)use it they create incentive for people to create alternatives to the US financial system.
I think the ICC has much bigger credibility issues trying to impose jurisdiction over conflicts involving countries that are not parties to the Rome Statute.
> I would expect they would retaliate against the ICC if the ICC issued an arrest warrant for Xi Jinping.
Funny that we’re using this example when the ICC has issued a warrant against someone who isn’t the US head of state
> Funny that we’re using this example when the ICC has issued a warrant against someone who isn’t the US head of state
The ICC seems to have no problem issuing arrest warrants for government leaders of countries allied with the US involved in conflicts located in territories where there are no fully UN recognized State Parties to the Rome Statue. Additionally the ICC has ongoing investigations into US personnel directly. The ICC has arguably given the US sufficient justification for some form of retaliation(i.e. sanctions) for jurisdictional overreach.
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> I think the ICC has much bigger credibility issues trying to impose jurisdiction over conflicts involving countries that are not parties to the Rome Statute.
such as…?
> such as…?
Israel and the US for example.
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It might create opportunity for the EU. China routinely deploys similar sanctions against people who e.g. recognize the independence of Taiwan or refuse to buy cotton from Xinjiang.
The only problem is that the EU is kind of irrelevant when it comes to "financial systems."
It’s enough if they create an inter-EU system. The loss for a the US services would be big enough. Same way the Euro threatened the US Dollar