The Economic Impact of Russian Sanctions
Domestic and International Implications
In response to Russia’s full-scale invasion of Ukraine starting in February 2022, a broad, multilateral coalition, including the United States, the European Union (EU), the United Kingdom, Canada, Australia, Japan and others, imposed sweeping new sanctions on Russia. The sanctions — unprecedented in terms of scope, coordination and speed — target Russia’s key decision-makers and influential business elites, among others. Sanctions also target Russia’s financial, military and energy sectors as well as access to U.S. technology and the dollar, among other measures. Russia’s economy has largely withstood sanctions to date, but economic pressures within Russia are building. On Feb. 12,…
