So, saw this yesterday:

“Biden said he’s seeking to shield Americans from higher energy costs by exempting energy payments from sanctions…The sanctions didn’t appear targeted at Russian energy, aluminum, and wheat industries…”

Former Bush official McNally called it: “I expect stringent sanctions, but nothing on energy — bankers, ships, and oligarchs. They don’t want to add upward pressure on oil prices — they are absolutely terrified.”

Putin will win the war. He will leave Ukraine, except in the newly recognized republics. Whatever regime is in control of the rest of the Ukraine will now understand the consequences of even thinking of joining NATO. The West egged Ukraine on and then did nothing while Russia invaded it.

The sanctions which are about to hit Russia are serious, but if they don’t include wheat, aluminum, energy, or maritime shipping or hit oligarchs by kicking them out of London and other European capitals, they aren’t really going to matter.

Putin has made fools of the Western elite class again. Yes, the intelligence was right, but it didn’t matter. He’s figured exactly out what the West will and won’t do. He calculated right, they calculated wrong.

Because people are all worked up, I will state, again: This is not a moral judgment. Putin, like every recent US President, is a war criminal who should be hung. But he’s competent, and Western elites are fools.

Putin calculated correctly because, indeed, if Russian oil is cut off from the West, the economic consequences will be huge. He can withstand the loss of customers better than the customers can withstand the loss of oil and natural gas.

I don’t really get it. (I mean, I do; they’re idiots.) If they weren’t going to actually hit Russia with real sanctions & they believed Russia would invade, they should have actually negotiated to avoid the invasion. What here is better than saying “Okay, Ukraine won’t join NATO”?

However, I think there’s still a slight chance Putin has miscalculated. Congress may pass a ban — even if Biden doesn’t want it. But, it looks to me like Putin is fine with his BATNA; he thinks an oil cutoff will hurt the West more than it hurts Russia.

(A BATNA is your best alternative to a negotiated agreement. Putin wanted things from the West, they wouldn’t give those things to him, and his BATNA was “Okay, I’ll invade, you’ll hit me with sanctions, and I can live with those sanctions.)

At the end of the day, neglecting to negotiate over whether Ukraine will ever join NATO or is a neutral country will result in Ukraine never joining NATO and a lot of people dying. (I know some people think he would have invaded anyway, but we’ll never know. We didn’t negotiate.)

Negotiation is not based on the notion that “None of the things you want are a starter. We will talk, but nothing you want will happen.” That was the Western stance. Well then, Putin had a BATNA he was willing to use. What was the West’s?

No matter how much I take the sheer incompetence of Western elites into account, I can never keep up. They are always more stupid, more foolish, and more greedy than I can imagine.

Anyway, Putin will win his war. He will probably win his peace; the sanctions are not going to be so large he can’t handle them. Indeed, the way that the West has ratcheted up sanctions over the years has been a favor to him. Do remember that Russia has said that if they are cut out out from SWIFT, they will consider it an act of war, and then ask yourself, “Is Putin bluffing?” Then ask yourself how the assumption that Putin is bluffing and calling his bluffs has worked out for people over the years.

Putin will not let the West choke him out like they did Iran and Venezuela. And it doesn’t look like the West is even going to try.

Meanwhile, China has been crystal clear that they are not going to cut Russia off. China’s foreign ministry statement:

When the US drove five waves of NATO expansion eastward all the way to Russia’s doorstep and deployed advanced offensive strategicweapons in breach of its assurances to Russia, did it ever think about the consequences of pushing a big country to the wall?… Did the US respect the sovereignty and territorial integrity of the Federal Republic of Yugoslavia when US-led NATO bombed Belgrade?

Did the US respect the sovereignty and territorial integrity of Iraq when it launched military strikes on Baghdad on unwarranted charges? Did the US respect the sovereignty and territorial integrity of Afghanistan when US drones wantonly killed innocent people in Kabul and other places? Did the US respect the sovereignty and territorial integrity of other countries when it instigated color revolutions and meddled in their internal affairs all around the world?

It is hoped that the US takes these questions seriously and abandons double standards.

Yeah.

Let’s be clear, China will never let the West choke out Russia because China knows that the US (and increasingly the EU) considers China the real enemy — once Russia is taken out, China’s next. If Russia goes down, China no longer has a secure back, or a secure source of oil, minerals, or food. With Russia, China has a good chance of winning the oncoming Cold War. Without it, China loses that war.

The West appears unwilling to put in real sanctions because they would hurt the West more than they would hurt Russia. (Note that England’s economy would collapse if they really froze out oligarchs, starting with the London real-estate market. I bet half the richest people in Britain would be bankrupt in six months. Even the central bank might not be able to save them by printing money because, without Russians propping up the City, the pound would collapse.)

We’ll see how this plays out. But I think Putin comes out of this with a win. That’s not a moral judgment, it’s a pragmatic one.