Are the sanctions against Russia working?
In the past year, the United States and many of its allies have slapped a massive level of sanctions on Russia over its invasion of Ukraine. "The short answer is yes" — the sanctions are effective, says Edward Fishman, who led the State Department's sanctions policy after Russia invaded Crimea in 2014. The United States, Canada and European countries hit Russia hard with financial sanctions shortly after its invasion of Ukraine in late February. "I think in my day, the idea of imposing blocking sanctions on Sberbank, which is by far the largest bank in Russia, was unthinkable, let alone sanctions on the Central Bank of Russia," says Fishman, now a scholar at Columbia University's Center on Global Energy Policy. The strategy, which analysts dubbed "Fortress Russia," was intended to make the Russian economy sanction-proof — but few economists thought it would work.
2 months ago
WFSU News
