A Republican US senator wants heavy US sanctions against Algeria.
Why?
Observers cite several reasons for this.
Thus, among the main reasons for this political disagreement is the existing relationship between the Algerian government and the country of Putin. Added to this is the fact that the People's National Army (ANP) sources its weapons from the Russians. Something that obviously does not necessarily please the USA.
Knowing that it is not the only country to do this.
Indeed, India and Turkey also acquired their weapons from the Russians. With the only difference that these two nations are not affected by American sanctions for, obviously, a link with Israel.
In fact, it is the American senators, Marco Rubio and Ted Cruz who are in charge of this anti-Algerian strategy. These two Yankees are based on a text adopted in 2017 in order to hope to achieve their ends. This is the text entitled “Countering America’s adversaries trough sanctions act”. Or, word for word, “The Confronting America’s Adversaries Through Sanctions Act.”
In detail, this law allows Biden to take sanctions against parties "engaged in material transactions" with the Russians. While specifying that the Head of State "has delegated this power to the Secretary of State". The House of Representatives also wants to penalize African countries that buy oil from Russia. But is that all that drives the US sanctions against Algeria.
More than one analyst would tend to answer in the negative just to follow the exchange rate in Algeria. At the moment, Algeria enjoys a large trade balance surplus! Indeed, the Algerian dinar has surged in recent days, "a historic and surprising jump in official banking transactions, while the euro and the dollar each stood at around 140 dinars", which is "a significant increase".
It is a historical recovery of the Algerian national currency which has not been recorded for more than 10 years, where the dinar achieved an increase of 12.5% during these days compared to last year.
And the dinar is expected to continue to rise for the rest of this year and even into next year, given the geopolitical developments that have resulted from the crisis in Ukraine, which has led to higher gas prices. at 300 dollars per 1000 cubic meters and oil prices at more than 100 dollars per barrel, which made it possible to increase the country's income from exports.
Regarding the reasons for the rise in the value of the dinar, they would be linked first to the fall in the value of the euro and the dollar at the level of the world market, as well as to the increase in the foreign exchange reserves of the Algeria, which "has given the dinar additional capacity to fend off adverse inflationary shocks", as hydrocarbon exports are expected to exceed $50 billion by the end of the current year, i.e. an increase of 15% compared to 2021.
With the improvement in the value of the dinar, Algeria will experience "price stability and a slowdown in inflation, and consequently an improvement in purchasing power, in addition to bringing the economic growth rate to the limit. by 3.6%”, according to the experts.
Isn't that more than enough to put Algeria on the US blacklist?