JRL NEWSWATCH: “Sanctions on Russia Are Working. Here’s Why.” – Foreign Policy/ Agathe Demarais

File Image of Artist's Conception of Globe with Curved Connecting Lines of Light Passing Through Space, adapted from image at fincen.gov

“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

Sanctions on Russia Are Working. Here’s Why.


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