JRL NEWSWATCH: “Are sanctions on Russia working? The lessons from a new era of economic warfare” – The Economist

“… [A] war of attrition is taking place along a thousand-kilometre front …. … [A]nother struggle is raging — an economic conflict of a ferocity and scope not seen since the 1940s, as Western countries try to cripple Russia’s $1.8trn economy with a novel arsenal of sanctions. … [I]t … reveals a great deal about liberal democracies’ capacity to project power globally into the late 2020s and beyond, including against China. Worryingly, so far the sanctions war is not going as well as expected. …. The short-term goal, at least initially, was to trigger a liquidity and balance-of-payments crisis in Russia that would make it hard to finance the Ukraine war and thus alter the Kremlin’s incentives. In the long run the intent is to impair Russia’s productive capacity and technological sophistication so that, if Vladimir Putin aspires to invade another country, he would have fewer resources to hand. A final aim is to deter others from warmongering. …”

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