No enforcing authority can require Russia to honor its contracts if it does not wish to do so. Russia presumes that this embargo will put more pressure on Ukraine than Russia. Maybe so.
"The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.” -- Milton Friedman
"The urge to save humanity is almost always a false front for the urge to rule." -- H. L. Mencken
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