RUSSIA: How Well Do Sanctions Work?
Every week, it seems, we hear that Russia is on the brink of financial ruin. "Soon they’ll have to stop the war!" or "Russia is broke!" — headlines around the world love to exaggerate how close Russia supposedly is to collapse. Since 2022, the West has imposed harsh sanctions on Russia in response to its full-scale invasion of Ukraine. In this blog post, we’ll take a broad look at what kinds of sanctions exist and whether they’re actually working. We’ll also explore whether this is the right way to go about stopping Russia and moving closer to peace. SANCTION ON RUSSIA IN BRIEF Since the start of the full-scale invasion on February 24, 2022, Western countries have imposed some of the most extensive sanctions in modern history on Russia. These measures have targeted key sectors of the Russian economy, including energy, finance, defense, and technology. Russian citizens have been largely banned from traveling to Europe, and Russian flights are prohibited from ente...