- Tunisia's President Saied set for landslide election win
- Barca hoping to return to Camp Nou 'by end of year'
- Trump to open second golf course at Scotland resort in summer 2025
- Super-sub Jhon Duran rewarded with new Aston Villa deal
- US duo win Nobel for gene regulation breakthrough
- Masood hits first ton for four years to power Pakistan to 233-1
- Fritz wins delayed match to reach Shanghai Masters third round
- Naomi Osaka pulls out of Japan Open with back injury
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Artist Marina Abramovic hopes first China show offers tech respite
- Asian markets track Wall St rally on US jobs data
- Pakistan 122-1 at lunch in first England Test
- Kazakhs approve plan for first nuclear power plant
- World marks anniversary of Oct. 7 attack on Israel
- 'Second family': tennis stars hunt winning formula with new coaches
- Philippines, South Korea agree to deepen maritime cooperation
- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
- Japan govt admits doctoring 'untidy' cabinet photo
- Israel marks first anniversary of Hamas's October 7 attack
- Darvish tames Ohtani as Padres thrash Dodgers
- Asian markets track Wall St rally on jobs data
- Family affair as LeBron, Bronny James make Lakers bow
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- As Great Salt Lake dries, Utah Republicans pardon Trump climate skepticism
- Amazon activist warns of 'critical situation' ahead of UN forum
- Mourners pay tribute to latest victims of deadly Channel crossing
- Tunisia incumbent Saied set to win presidential vote: exit polls
- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- AC Milan fall at Fiorentina after De Gea's penalty heroics
- Lewandowski treble for leaders Barca as Atletico held
- Fresh Israeli strikes hit south Beirut
- Sucic stunner earns Real Sociedad draw against Atletico
- PSG draw with Nice, fail to reclaim top spot in Ligue 1
- Gudmundsson downs AC Milan after De Gea's penalty heroics for Fiorentina
- 'Yes' vote prevails in Kazakhstan nuclear plant vote: TV
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Lewandowski hat-trick powers Liga leaders Barca to Alaves victory
- 'Nothing gets in way of team,' says Celtics' MVP hopeful Tatum
- India maintain Pakistan stranglehold as Windies cruise at Women's T20 World Cup
- 'We will win!': Mozambique's ruling party confident at final vote rally
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Florida braces for Milton, FEMA head slams 'dangerous' Helene misinformation
- Postecoglou slams 'unacceptable' Spurs after 'terrible' loss at Brighton
- Marmoush double denies Bayern outright Bundesliga top spot
- Rallies worldwide call for Gaza, Lebanon ceasefire
Nobel laureate Stiglitz calls on Europe to do without Russian gas
Nobel economics prize laureate Joseph Stiglitz said Tuesday that the speed and intensity of economic and financial sanctions against Russia would make them efficient but warned Europe must stop buying Russian oil and gas.
He said that Moscow's ability to conduct the war in Ukraine would be impaired by the repercussions from sanctions on its economy.
"They've lost an enormous amount of military equipment... that they will need to replace," he told AFP in an interview on the sidelines of a conference in Paris on Europe's future.
Whether Russia has the manufacturing and financial capacity is, however, "really questionable", he said.
A major element in the potential success of sanctions is their "rapid imposition", he added.
"I think it is important because when you notch it up gradually, they can adapt."
Washington and its EU allies have imposed unprecedented economic sanctions on Russia in response to Moscow's military onslaught against its pro-EU neighbour.
But it's hard to know whether the impact of the sanctions on the Russian people and oligarchs could push President Vladimir Putin into easing his position on Ukraine and its invasion, Stiglitz said.
"There is a massive misinformation propaganda, so that ordinary people are blaming not him but the West" for the sanctions they face, he added.
The academic, who was a senior economic adviser to US president Bill Clinton in the 1990s, also said that Europeans should stop gas and oil purchases from Russia that help Moscow finance the war.
To compensate, he suggested a system of "sharing the burden" among European countries that rely on Russian gas.
Although the United States has decided to block all imports of Russian oil and gas, some European countries such as Germany and the Baltic states which import Russian gas don't have an alternative in the short term.
"There is enormous pressure we should put on Saudi Arabia, Abu Dhabi, the UAE, and relax sanctions against Iran and Venezuela, and get their oil," he said.
"There is a priority here."
The conflict and sanctions have driven up inflation, especially energy and raw materials prices, but Stiglitz said concern about inflation was "out of proportion".
"From a political point of view, it is an issue," he said.
"But from an economic point of view, actually, in a world where you have a lot of economic transformations going on... high rates of inflation actually facilitate economic transformation."
L.Harper--AMWN