The Gray Area with Sean Illing The War in Ukraine, Explained — Part 2: Sanctions
Apr 7, 2022
Daniel Drezner, a Tufts University professor and Washington Post columnist, delves into the massive sanctions imposed on Russia following its invasion of Ukraine. He discusses the intricate effects these sanctions have on both the Kremlin and its citizens, as well as the potential for new global economic dynamics. Drezner highlights the energy dilemma faced by Europe, especially its reliance on Russian resources. The conversation also touches on the implications for international law and military power in Eastern Europe, along with the uncertain outcomes of these economic strategies.
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Unprecedented Sanctions
- Sanctions against Russia are unprecedented due to central bank asset freezes and private sector actions.
- These sanctions limit Russia's ability to defend its currency and engage in international trade.
Central Bank Sanctions
- Freezing central bank assets limits a country's ability to defend its currency during economic shocks.
- Russia's central bank's ability to mitigate the ruble's decline is compromised by these sanctions.
Targeted Sanctions
- Targeted sanctions on elites are meant to pressure leaders like Putin, but their effectiveness is limited.
- Putin's cronies are more reliant on him than vice-versa, making targeted sanctions less impactful.
