The Impact of Russian Sanctions on the Economy

It’s been six months since the West imposed an array of sanctions on Russia after its invasion of Ukraine. Around half of Russia’s $640 billion worth of foreign exchange and gold reserves have been frozen, major Russian banks have been barred from the international financial messaging system Swift, the selling of key technology to the country has been prohibited, and the assets of some wealthy individuals have been seized. But Europe is still buying large amounts of Russian gas, a commodity it depends on to keep its citizens warm and its industries running. So, what are the main aims of the sanctions regime? Are the measures working or is Russia finding new ways around restrictions? And what does the future hold for an economy that’s increasingly cut off from major world markets?

Ritula Shah is joined by a panel of expert guests. Producers: Rozita Riazati and Paul Schuster.