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The Socialist Program with Brian Becker

Sanctions Backfire: Europe Plunged into Energy Crisis

The Socialist Program with Brian Becker

The Socialist Program

Politics, News

4.7587 Ratings

🗓️ 7 September 2022

⏱️ 32 minutes

🧾️ Download transcript

Summary

On today's episode Walter Smolarek and Prof. Richard  Wolff discuss how Europe has plunged into an even deeper energy crisis  as Russia cuts off imports through the Nord Stream pipeline in response  to western sanctions. While US and European leaders pledged that  sanctions would quickly bring the Russian economy to its knees, is the  reality in fact the opposite?

Professor Richard Wolff is an author  & co-founder of the organization Democracy at Work. You can find  his work at rdwolff.com.

Please make an urgently-needed contribution to The Socialist Program by joining our Patreon community at patreon.com/thesocialistprogram. We rely on the generous support of our listeners to keep bringing you consistent, high-quality shows.

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Transcript

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0:00.0

Europe has plunged into an even deeper energy crisis as Russia cuts off imports through the Nord Stream pipeline in response to Western sanctions.

0:10.9

While U.S. and European leaders pledge that sanctions would quickly bring the Russian economy to its knees, is the reality, in fact, the opposite.

0:20.3

We need a new system. We need a new system.

0:22.5

We need a new society.

0:24.4

We need to demand that which may have sounded impossible even a few weeks ago,

0:28.6

but is not only realizable, but an imperative necessity.

1:06.8

Music We are very excited to have Professor Richard Wolfe join us for a regular weekly segment where we discuss the biggest stories relating to the economy, the state of the working class, and the crimes of big business.

1:09.0

I'm Walter Smolerick, filling in for Brian Beck.

1:13.8

The Socialist Program brings you content three days a week thanks to the support of our patrons at patreon.com slash the Socialist Program.

1:17.0

We appreciate all of your support and encourage you to become a patron today if you enjoy

1:22.0

listening to the show.

1:24.1

Richard Wolfe is the co-founder of the organization Democracy at Work, and the author of many books,

1:29.6

the latest is The Sickness is the System. When Capitalism fails to save us from pandemics or itself,

1:36.2

you can check that out and all of his work at R.D.Wolf.com. So Professor Wolfe, our listeners

1:44.0

might be more familiar with the Nord Stream 2 pipeline.

1:47.8

That was the planned, basically constructed pipeline that never became operational because of

1:53.6

tensions between the West and Russia culminating with the war in Ukraine that began in February.

2:00.7

But now the Nord Stream 1 pipeline, right, the pipeline. culminating with the war in Ukraine that began in February.

2:04.5

But now the Nord Stream 1 pipeline, right,

2:07.4

the pipeline that has been operational for many years and is a crucial artery for Europe to get gas from Russia,

2:11.9

especially countries that are crucial to the European economy, like Germany.

2:16.5

I mean, are the sanctions essentially backfiring?

...

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