Al Jazeera: Sanctions on Russia may not be working, we now know why
European businesses and third countries are actively circumventing sanctions, providing Russia with sanctioned goods and thus helping its war effort.
On February 25, 2022, a day after Russia undertook a full-scale invasion of Ukraine, the European Union introduced unprecedented sanctions against the aggressor. The measures were intended to send a clear signal to Moscow that there would be severe consequences for its actions.
The sanctions targeted Russian President Vladimir Putin’s inner circle, as well as Russian companies and several sectors of the Russian economy. In the following months, the sanctions regime against Russia was expanded with eight more instalments, hitting its most valuable exports to Europe – oil and gas – and curbing its access to products that could be used in its war on Ukraine.
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WNU Editor: Russia is the world' resource superpower. You cannot shut that spigot without incurring severe economic pain. But Western leaders still proceeded..
They made the decision to not buy Russian products nor export its products to Russia. And they are paying dearly for it. The rest of the world has a different point of view on what is happening in Ukraine, and they made the decision to not heed Western demand for Russian sanctions. Not surprising. Their economies are booming.
On a personal note.
My aunt arrived today to be with my ailing mom. She is my mother's youngest sister, and she lives in Moscow. It took her 18 hours and 4 interconnecting flights to get to Montreal. In the past it would take 8 hours, and maybe one interconnecting flight.
I asked her on how sanctions are impacting her and her friends. Her response was .... there is no impact. The stores are full, and almost all of the Western goods and brands that she is familiar with are available. She also told me that everyone she knows is flushed with money.
I am not surprised to hear that last comment from my aunt.
Before the war hundreds of billions of dollars was flowing out of the country each year. No more now. Sanctions has killed that practice. That money is now staying in Russia, and it is having a huge impact on everyone's lives. My aunt included.