Ones and Tooze How Would Sanctions Work Against Russia Over Ukraine?
Jan 14, 2022
Tensions escalate as talks with Russia stall over Ukraine, prompting discussions on potential economic sanctions. Experts analyze Russia's economy, its energy ties, and the human costs of conflict. The podcast also kicks off a mini-series on life cycle economics, starting with the growing trend of elective egg freezing among women navigating career and family choices during the pandemic. This shift highlights broader societal changes in parenting age and family formation, while raising questions about reproductive health technology and economic pressures.
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Potential US Sanctions Against Russia
- The US could sanction Russia by locking its banks out of SWIFT or sanctioning firms using US components.
- Sanctioning Russian oil and gas is unlikely due to Europe's dependence and high global energy prices.
Russia's Economic and Geopolitical Significance
- While Russia's GDP is comparable to Spain's, its strengths lie in its energy sector, nuclear arsenal, and cyber warfare capabilities.
- Its vast territory and resources contribute to its great power status.
Russia's Economic Sphere of Influence
- Russia's economic sphere of influence varies among former Soviet states. Belarus is heavily dependent on Russia, while Kazakhstan trades mainly with the EU and China.
- Uzbekistan, with its large population, is a key indicator of Russia's economic influence in Central Asia.