As the world is confronting the consequences of Russia’s illegal invasion of Ukraine, the Philippines must also be ready to take concrete actions in containing the spillover effects from this disastrous conflict.
In this regard, we respectfully proffer the following actions:
First, the Philippines should begin to call around 5,000 Overseas Filipino Workers (OFWs) in Russia and its surrounding areas to come home. The downfall of the Russian ruble is now making the remittances of these OFWs worthless. Worse, the deteriorating economic condition of Russia, as a result of the West’s sanctions, are putting the lives of these OFWs in harm’s way.
Second, we should now take even more seriously the development and extraction of energy from Reed Bank and other Philippine energy sources. The looming energy crisis in our country has been exacerbated not only because of the depleting reserves of the Malampaya gas field, but also because of the inevitable global energy shortage resulting from the West’s sanctions on Russia.
Third, the Philippine economic managers should prepare actions to alleviate the impact of the sanctions on Russia and look for opportunities especially relating to the mass migration of businesses out of Ukraine and Russia. Moreover, given the China-Russia alliance in addition to Chinese encroachments in the West Philippine Sea, we should further reassess our political and economic exposure to China.
Fourth, as we learn lessons from the unfolding of this Russo-Ukrainian tragedy, the Philippines should also be ready with the possible tragedy closer to home: China’s invasion of Taiwan. Like the current conflict, in the event that China invades Taiwan, there will be Western sanctions, armed response, migration of refugees, and economic fallouts.
Finally, the Philippines must take concrete actions in joining the international community in condemning Russia’s illegal invasion of Ukraine and making Russian President Vladimir Putin and his supporters understand the real consequences in committing such an illegal and despicable act.
A successful Russian invasion of Ukraine will further embolden China to likewise use force to seize the West Philippine Sea from the Philippines.
The international community must unequivocally show Russia and China that such illegal and despicable actions will warrant the most severe punishment the world is able to impose.