Money Talks from The Economist
Money Talks: Is the West losing its sanctions war?
Feb 29, 2024
Exploring the effectiveness of financial warfare through sanctions on Russia, challenges in enforcing sanctions, impact on international policy, historical evolution of sanctions, middle-income countries' role in relief amidst sanctions, US push for seizing Russian assets in Europe, and humorous economic proposals
42:42
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Quick takeaways
- Despite efforts to cripple Russia's economy with sanctions, it has shown resilience, growing slightly from 2021 to 2023.
- Middle power countries like Brazil, India, and Mexico play a significant role in circumventing Western sanctions and supplying critical goods to Russia.
Deep dives
Effectiveness and Resilience of Economic Sanctions Against Russia
The podcast discusses the effectiveness and resilience of economic sanctions imposed against Russia in response to its actions in Ukraine. Despite efforts to cripple Russia's economy, it has shown resilience, with output even growing slightly from 2021 to 2023. The US and its allies have targeted Russia's oligarchs, banks, and businesses profiting from the invasion, imposing thousands of individual sanctions. However, alternative suppliers to Russia have emerged, evading Western sanctions, showcasing some limitations of the sanctions regime.
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