JRL NEWSWATCH: “The Sanctions on Russia Are Working: Slowly but Surely, They Are Weakening Putin” – Foreign Affairs/ Vladimir Milov

Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

“… Russia had the opportunity to cushion its economy against Western sanctions before Putin declared war. … Russia accumulated substantial financial reserves. … increased trade to Asia … and[,] [m]ost important, Putin aggressively strengthened his repressive machine to deter mass protests against deteriorating living standards.  … [E]xpectations that Western sanctions would cause the Russian economy — and Putin’s regime — to quickly disintegrate were unrealistic. Putin has invested significant resources in a disinformation campaign aimed at misleading Western policymakers about the real effects of sanctions. But make no mistake: they are, in fact, hobbling the Russian economy. … [T]he myth that they are not effective could nudge policymakers to drop them, giving Putin a lifeline. … Given time, sanctions may well deter Russia’s aggressive behavior. Western policymakers must conduct a detailed analysis of the impact … instead of accepting a narrow set of manipulated indicators. … [A]bove all, they must be patient.”

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