In 2022, sanctions formed a critical element of the West’s response to Russia’s full-scale invasion of Ukraine. Those sanctions led to a contraction of the Russian economy, cut off Putin cronies from their lavish lifestyles in the West, and degraded Russia’s ability to invest in critical advanced technologies, including in its defense industry. At the same time, the ramifications for Russia’s economy have not been as drastic as many observers expected, and Kremlin-linked companies have found ways to evade sanctions and prop up Moscow’s war efforts.
What are the true impacts of Western sanctions against Russia? How will sanctions impact the Russian economy over the coming months and years? What more can Western countries do to improve their enforcement and the efficacy of sanctions?
Vladimir Milov, vice president of international advocacy for the Free Russia Foundation and author of a new report on the real impact of Russian sanctions, joins a discussion moderated by Ambassador John Herbst, senior director of the Atlantic Council's Eurasia Center, and featuring Ambassador Daniel Fried, Weiser Family Distinguished Fellow at the Atlantic Council, Charles Lichfield, deputy director and C. Boyden Gray senior fellow at the Atlantic Council's GeoEconomics Center, Elina Ribakova, deputy chief economist of the Institute for International Finance, and Leonid Volkov, chief of staff for Alexei Navalny and political director for the team of Alexei Navalny.
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