Russia has become the most sanctioned nation in the world. Some 6,000 sanctions have been slapped against the country over the past few years, including individual Russian political leaders and businessmen. Russia exports have been banned, banks have lost access to international systems, yachts of oligarchs have been seized and many companies have left Russia altogether. Western countries hope the financial pressure will force President Vladimir Putin to deescalate the attack in Ukraine. But how much economic heat is Russia actually feeling? And can it backfire? CGTN’s Yang Shanshan reports.
Joining the discussion:
- Pavel Felgenhauer is a Defense analyst and Columnist for the Novaya Gazeta.
- Einar Tangen is a Current Affairs Commentator.
- John Quelch is Dean of the Herbert Business School at the University of Miami.
- Brian Becker is the Executive Director of the ANSWER Coalition.
Secretary of State Antony Blinken told NPR that Russia would need to perform an "irreversible" withdrawal from Ukraine before the U.S. would consider lifting any sanctions on the country. https://t.co/z9AYhcMD7b
— NPR Politics (@nprpolitics) March 16, 2022
— Reuters (@Reuters) March 17, 2022
Russia-backed instant grocery service Buyk filed for bankruptcy on Thursday after a cash crunch https://t.co/d3kTq706xH
— Bloomberg (@business) March 17, 2022