Stand up to Russian bully Bear
Diane Francis, Financial Post
Published: Tuesday, August 19, 2008
The Russians overdid it by invading and destroying huge chunks of Georgia and the backlash builds, both diplomatically and economically.
The ruble and Russian markets have tanked and nobody in their right mind would do business with, or in, Russia.
Moscow was provoked into the invasion, perhaps by accident or on purpose, by a foolish Georgia President who sent troops into breakaway provinces where there were Russian peacekeepers.
Even so, there was no need to rape and pillage the tiny country. But, as one commentator suggested a while ago, all bully-boy leaders occasionally pick up some "crappy little nation and throw it against the wall" just to flex their muscles.
Canada, hardly a world power, still has moral standing in the world and much skin in the game. This is why Ottawa should grow a backbone and do three things immediately: prohibit any more Russians, or Russian entities, from acquiring any more Canadian corporations or assets; oppose WTO membership for Russia for the time being; and support the movement to kick Russia out of the G8, to which it has never really belonged.
By the way, these are not punitive policies but protective ones. The Putinocracy is neither a democracy nor a free-enterprise nation. The media has been gutted, the elections were fraudulent, the rule of law has never been in place. Just ask BP, whose CEO has just been booted out of the country, or any number of other foreigners who have been disenfranchised or gone missing unceremoniously. (Frank Stronach, Belinda Stronach, Magna, PetroCanada and others doing business there or with Russians, make note of their rough treatment.)
Meanwhile, the biggest future victims -- the Europeans -- must avoid becoming totally dependent on Russia's energy supplies. A big motivation for Russia's unnecessary conquest of Georgia was to worry owners of the so-called BTC (Baku-Tbilisi-Ceyhan) pipeline, capable of carrying up to 10 million barrels a day of oil from Central Asian republics to a Turkish port via Georgia, thus bypassing Russian pipelines. (Owners include BP, Total of France, the Azerbaijani government, among others.)
But Vlad Putin may have overplayed his hand when he thumbed his nose last week at a ceasefire deal negotiated by France's Nicolas Sarkozy.
Within hours of signing off, and with Putin's thugs ignoring the "treaty," Poland agreed to join the U. S. missile shield, sparking a nasty nuclear threat from a Russian general. This weekend, Ukraine stood beside Georgia and is talking nuke protection too.
Strangely, this is good news for Canada. It makes our oil and mining sectors look like the best bets in the world, along with Australia's.
It also should wake up a pliant and naive Ottawa that Canada has been a target nation of the Russian Bear for nearly two years now. Several of our largest companies have been snapped up, plus goodness knows how many more are secretly owned or doing business with the Russians.
Canada should also make it known that it will absolutely oppose regime change in Georgia, will help rebuild the country and will be against World Trade Organization membership for Russia.
This is also because the next "crappy little country" to be thrown against the wall by the bully-boy might be Canada's Arctic territories.
dfrancis@nationalpost.com