JRL NEWSWATCH: “Sanctions on Russia Are Working. Here’s Why.” – Foreign Policy/ Agathe Demarais
“The Kremlin’s ability to wage war is already constrained, but the worst is yet to come.”
“… [I]ncessant debates over the effectiveness of sanctions … serve[] the Kremlin’s interests. … [W]inter fast approaching, Putin is betting that sanctions fatigue will soon set in. … [D]ata show[] that the people claiming sanctions are ineffective are wrong: Only nine months after … they are already weighing on Moscow’s ability to wage war. … and … effectiveness … will increase over time. … Energy prices have been dropping …. Further decreases are likely in 2023 as the global economy slows. … [T]he EU will stop importing Russian oil. … Russia shot itself in the foot … turning off most of the gas tap to Europe, cutting off [its own] financial lifeline. Reorienting gas exports to China will take many years and tremendous [infrastructure] investments …. [China] is in no rush. … know[ing] … it will be able to extract more financial concessions from an increasingly desperate Kremlin. … Western countries have not exhausted all [their sanctions] … options … Still at their disposal are three measures … [used against ] Iran …. [They] could cut all Russian banks off from SWIFT … [creating] financial isolation. The United States could … ban Russia from using the U.S. dollar, greatly complicating energy exports. … U.S. secondary sanctions[] would force all companies … foreign or domestic[] to choose between … Russian and U.S. markets. Buying Russian oil or gas would be outlawed [globally] ….”
Click here for: “Sanctions on Russia Are Working. Here’s Why. The Kremlin’s ability to wage war is already constrained, but the worst is yet to come.” – Foreign Policy/ Agathe Demarais