Economist Podcasts Bear trapped: the sanctions on Russia
Mar 7, 2022
Patrick Fowles, The Economist's business affairs editor, dissects the pressing economic fallout from the sanctions on Russia post-invasion of Ukraine. Dominic Ziegler, The senior Asia correspondent, analyzes how the conflict influences Asian nations, especially Taiwan, heightening its focus on self-defense against potential Chinese aggression. The conversation reveals the multifaceted impact of these sanctions and the broader geopolitical ramifications, showcasing a new era of economic conflict and the intricate dance of international relations.
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Impact of Sanctions on Russia
- Western sanctions against Russia after its invasion of Ukraine have been swift and impactful.
- These sanctions target banks, the central bank's reserves, and high-tech exports, potentially including oil.
Cost of Sanctions to the West
- Sanctions on Russia could negatively affect Western economies, especially through higher oil prices.
- This marks a shift from sanctions being a low-cost tool for the West.
Long-Term Effects and Sustainability of Sanctions
- Sanctions likely won't cause Russia to withdraw from Ukraine but will limit its ability to cause trouble.
- Russia's survival depends on its pivot to China and its autocratic power structure.
