News
U.S. will finally hurt itself by weaponizing its economy
By Zhong Sheng, People’s Daily
Countries are in a tough situation today, having to cope with COVID-19 while ensuring economic development and livelihood.
However, ignoring global stability and livelihood concerns, the U.S. has imposed a series of unilateral sanctions against Russia and forced other countries to obey them through the threat of secondary sanctions. Its practices of weaponizing its economy, economic hegemony and financial terrorism have triggered widespread concerns of the international society, and are condemned by many countries.
Since the outbreak of the Ukraine-Russia conflict, the U.S. has made every effort to avoid direct military engagement. However, by providing massive military assistance for Ukraine and imposing sanctions, it has launched hybrid warfare against Russia.
The U.S. not only imposed sanctions on Russian government officials, but also excluded a number of Russian banks from the SWIFT (Society for Worldwide Interbank Financial Telecommunication) messaging system, the main system underpinning global financial transactions. Besides, it has frozen the assets of Russia’s central bank, placed new debt and equity limitations on Russian enterprises and entities, imposed bans on the exports of over half of its high-tech products to Russia, and prohibited the purchase of petroleum and natural gas from Russia.
The facts demonstrate that the target of these unprecedented sanctions is not a truce, but rather the militaristic and economic annihilation of Russia. Even after positive signals were released from the new round of negotiations between Russia and Ukraine held on March 29, the U.S. and its allies still said they would keep intensifying sanctions on Russia. It’s fair to say that the Ukraine crisis once again revealed the true colors of the “sanctions superpower” – to safeguard its hegemony by fair means or foul and at the expense of the interests of all the people in the world.
Driven by economic hegemonism, the U.S. implemented comprehensive and indiscriminate sanctions, which impeded global economy and hurt the people.
Kristalina Georgieva, managing director of the International Monetary Fund (IMF) noted that the war in Ukraine and massive sanctions against Russia have triggered a contraction in global trade, driving up food and energy costs and forcing the IMF to lower its global growth forecast. According to Oxford Economics, the sanctions against Russia may bring down the GDP in the Eurozone by 0.5 percentage points before the end of 2023.
It is obvious that if the U.S. further escalates its sanctions, a major crisis may hit global trade, finance, energy, food, and industrial and supply chains, wreaking havoc on the already slow global economy..
Plundering the world with financial terrorism, the U.S. has exacerbated global poverty and inequality. The middle-income trap in Latin American countries, Japanese economic crisis and Southeast Asian economic crisis were all related to American financial hegemony. The number of sanctions imposed by the U.S. has surged tenfold during the past 2 decades.. Economic and financial sanctions are what the country constantly resorts to.
Recently, the White House unfroze and embezzled $7 billion in Afghan funds in U.S. banks, sparking protests in many places across Afghanistan. Such practice was called a bare robbery. Today, freezing the assets of Russia’s central bank, the U.S. is once again making the rules of international finance a tool for it to plunder others.
The U.S. will definitely hurt itself upholding economic hegemonism and financial terrorism. Chief Economist of Euro Pacific Capital Peter Schiff believes that the U.S. would suffer a long-term consequence of turning the U.S. dollars into a weapon with sanctions, which will cause countries to worry about whether this weapon would be used against them one day. IMF Chief Economist Gita Gopinath said the world would reevaluate the security of taking U.S. dollars as foreign exchanges. Zoltan Pozsar, a senior adviser at the U.S. Department of the Treasury noted the U.S. and other Western countries have shaken the foundation of the existing international monetary system by freezing the assets of Russia’s central bank.
Even the allies of the U.S. are trying to mitigate the damaging consequences of U.S. sanctions. An expert pointed out that a crack is appearing in the monetary system from which the U.S. has long benefited, and the Ukraine crisis will hasten the process.
It is neither responsible nor ethically justifiable for the U.S., under the disguise of the so-called “rules,” to undermine international order and provoke confrontations with economic and financial hegemony.
The U.S. should immediately discard the Cold War mentality. It needs to see farther and pursue common interests, rather than hegemony and private gains, so as to work with all relevant parties to safeguard the long-term stability and sustainable development of the world.
News
Senator Monguno Delivers Monguno LGA for President Tinubu
Senator Mohammed Tahir Monguno, Chief Whip of the Senate and distinguished representative of Borno North Senatorial District, has once again proven his political dexterity and grassroots command by delivering Monguno Local Government Area overwhelmingly for President Bola Ahmed Tinubu during the All Progressives Congress (APC) Presidential Primaries.
The primaries, conducted in a peaceful and transparent atmosphere, drew massive participation from party faithful, stakeholders, youth groups, and women across Monguno LGA. The exercise was marked by unity, discipline, and enthusiasm, as members reaffirmed their loyalty to the APC and their unwavering commitment to the Renewed Hope Agenda championed by President Tinubu.
Senator Monguno, addressing the gathering, commended the people for their steadfastness and collective spirit. He emphasized that the success of the primaries was not merely a reflection of his leadership but a testament to the enduring bond between the APC and the people of Borno North. “Our strength lies in our unity, our discipline, and our loyalty to the ideals of progress and development. Together, we will continue to sustain the dominance of our great party,” he declared.
Observers noted that the outcome of the primaries further cements Senator Monguno’s reputation as a formidable political figure in Borno State. His ability to mobilize diverse groups – from traditional leaders and community stakeholders to youth and women organizations – underscores his deep connection with the grassroots and his commitment to inclusive leadership.
The primaries also highlighted the growing confidence of the people in President Tinubu’s administration. Many participants expressed optimism that the Renewed Hope Agenda would bring lasting development, security, and prosperity to the region. The atmosphere was charged with chants of solidarity and renewed determination to ensure the continued success of the APC at both state and national levels.
Political analysts have described Monguno’s achievement as a strategic boost for the APC in Borno State, reinforcing the party’s dominance and strengthening its prospects for future contests. The senator’s role in coordinating the primaries has been widely praised as an example of effective leadership and organizational skill.
As the APC consolidates its position across Nigeria, the Monguno LGA primaries stand as a clear demonstration of the party’s resilience and the people’s trust in its vision. Senator Monguno’s influence, coupled with the collective will of Borno North, has once again positioned the district as a stronghold of support for President Tinubu and the APC.
With this successful outing, Borno North remains united, resolute, and firmly committed to advancing the progress of the party and the nation under the leadership of President Bola Ahmed Tinubu.
News
KUMO CONGRATULATES TINUBU ON PRIMARY VICTORY: “NIGERIA HAS FOUND IN YOU A LEADER WORTHY OF HER TRUST “
Hon. Hamma-Adama Ali Kumo, popularly known as “Dattuwa”, Deputy National Financial Secretary of the All Progressives Congress (APC) and Chairman of the Governing Board of the Industrial Training Fund (ITF), has congratulated President Bola Ahmed Tinubu on his landslide victory at the 2026 APC Presidential Primary Election.
In a warm and heartfelt message, Kumo described the President’s victory as a clear and resounding endorsement by millions of ordinary Nigerians who have seen, felt, and believed in his leadership.
“Mr. President, today the people have spoken. From the North to the South, from state to state and ward to ward, APC members came out in their millions to say — we are with you. This victory belongs to every Nigerian who believes in a better tomorrow,” Kumo said.
He praised President Tinubu for the courage and humility he demonstrated by subjecting himself to the democratic process — choosing to stand and be elected rather than using the power of incumbency to sidestep the people’s verdict.
“You are a President who could have taken the easy road. Instead, you opened the door to all, welcomed a challenger, and stood before the Nigerian people to be judged. That is the mark of a true democrat, and we are proud of you,” he said.
Kumo also celebrated the Electoral Act 2026 — signed by the President — which abolished the delegate system and empowered grassroots party members across all 8,809 wards to vote directly for their preferred candidate. He described it as one of the most important gifts any President has given to Nigerian democracy.
“You did not just talk about democracy. You legislated for it, and then you lived by it. That consistency of character is what sets you apart,” Kumo added.
As a member of the APC’s National Working Committee and Chairman of the ITF Governing Board — a position he holds by the confidence of the President — Kumo said he remained fully committed to supporting the Tinubu administration in delivering on its Renewed Hope agenda for all Nigerians.
He closed with a personal charge to the President.
“Your Excellency, the mandate is yours. The people trust you. Go and finish the work. Nigeria is counting on you, and we are all standing firmly behind you.”
News
CBIAMEC Elects New Executives as National Coordinator, Onomuodeke Unveils Seven-Point Agenda
The CSO Budget Implementation, Assessment, Monitoring and Evaluation Committee (CBIAMEC) has on Friday, elected new executives to pilot the affairs of the committee, with Comrade Patrick Ogheneyero Onomuodeke, emerging as the newly elected National Coordinator.
The election, which drew members, stakeholders, and observers from different sectors, marked a significant transition in the leadership structure of the committee and reaffirmed its commitment to transparency, accountability, inclusion, and effective project monitoring across the country.
Other officers were also elected into key positions including General Secretary, Head of Operations, Head of Legal, Head of Media, among others.
Speaking shortly after the election, Comrade Patrick Ogheneyero unveiled a seven-point agenda aimed at repositioning the committee for greater efficiency, visibility, and impact. According to him, the agenda will focus on strengthening institutional capacity, promoting transparency in budget implementation processes, improving collaboration with relevant stakeholders, enhancing media visibility, deepening citizen engagement, promoting inclusiveness, and ensuring effective monitoring and evaluation of projects and policies.
He stressed the importance of unity, professionalism, and dedication among members, noting that civil society organizations must continue to play active roles in promoting good governance and accountability in the country.
The newly elected National Coordinator further pledged to run an open, inclusive, and result-driven administration that would prioritize teamwork, transparency, and national development.
The election also witnessed the presence of notable observers and stakeholders, including Comrade Adodo Solomon, Chairman Public and Private Partnership, as well as international development expert, Mrs. Tamara Jensin, President and Chairman Arc-royal International, alongside other dignitaries.
Members of the committee expressed optimism over the emergence of the new executives, describing the development as a fresh opportunity to reposition the organization and strengthen its relevance within the civic and governance space.
The event concluded with goodwill messages and renewed commitments by members to work collectively toward achieving the vision and objectives of the committee.
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