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The fallout from the AIIB debacle, wherein the US was defeated on the economic battlefield, is now being seen in the US war against Russia being spoiled by the European Union.
There are now 54 countries who have applied for membership in the AIIB, and the 34th member, Iran, was admitted on Tuesday, April 7.
If the US finally decides to join, it will be seen as a total defeat that even the US government must recognize. The US wants hegemony which it has enjoyed since the Bretton Woods Convention in 1944, but since that is no longer possible, the US has little choice but to come in as a more equal partner with the nations. The alternative is increasing US isolation.
The European Union now sees that the US has been defanged and essentially has lost the war with Russia. They are now poised to resume trade, knowing that it is only a matter of time before the sanctions against Russia are lifted.
MOSCOW (Sputnik) – Europe is ready to build new relations with Russia, Belgian Foreign Minister Didier Reynders said Thursday after talks with his Russian counterpart Sergei Lavrov in Moscow….
The European Union, as well as the United States and a handful of other nations imposed several rounds of anti-Russia sanctions. Moscow, denying the accusations, responded with a year-long food import ban on countries that introduced the sanctions.
A number of European states leaders, including Hungary, Greece, Italy, Spain and Cyprus, have expressed their hope to reconcile with Russia, citing economic difficulties caused by the food ban.