Unprecedented western sanctions strangling Russian economy
| Financial sanctions imposed by the U.S. and western allies are strangling the Russian economy.
As Russian President Vladimir Putin wages war against Ukraine, his country’s economy has begun to collapse under the weight of unprecedented penalties from the Biden administration, U.K., E.U. and other major economic players. “Everyone in the economic sphere, the banking sphere, knows we’re in new territory here—a coordinated shutdown of a country’s economy with the strongest arrow being in the heart of the banking sector,” said George Lopez, expert on economic sanctions at University of Notre Dame’s Keough School of Global Affairs. |
