Joe Biden’s administration is unlikely to impose many additional sanctions against Russia or contribute to the depreciation of the ruble, Susanne Wengle, professor of political science at the University of Notre Dame in Indiana and a researcher of economic and political development of post-Soviet countries, told RIA Novosti.
“Biden’s claim that Russia is the greatest threat to the United States was part of his campaigning strategy, which was in stark contrast to the Donald Trump administration’s position in all areas of political life. Although this position is likely to remain prominent with Biden’s accession in office in January, and he will probably want to appear tough with Russia for a while, I don’t think his policies will go much further than the ones already in place”, – Wengle said.
The existing sanctions are likely to continue and be renewed, she said.
The expert believes that the arrival of Biden will not affect the ruble exchange rate either.
“The exchange rate of the ruble, as you know, depends mainly on the global demand for hydrocarbons. Biden’s foreign policy is unlikely to have too significant an effect. The ruble is much more likely to be affected by the economic recovery on a global scale in the late stage of the pandemic and after the pandemic”, – she added.
According to her, Biden’s decisions will affect the ruble only insofar as his policies can stimulate American GDP. Biden will focus on domestic politics, tackling the coronavirus pandemic, adopting a stimulus package, and developing policies for a working class with little to no interest in foreign policy, she added. All this, she said, does not mean that Biden will try to break the established consensus, Wengle said.
As for the sanctions against the Nord Stream-2 and Turkish Stream pipelines, they come from the current composition of the Congress and will not necessarily correspond to the future course of Biden, Wengle said. Tony Blinken, whom Biden intends to appoint as Secretary of State, will restore ties with Europe, and the future of Nord Stream-2 will depend primarily on the position of Germany and its ties with the United States, the expert said.