Consider This from NPR Are Sanctions Slowing Down Russia's War Machine?
Feb 18, 2023
Edward Fishman, a Senior Research Scholar at Columbia's Center on Global Energy Policy and a former U.S. State Department official, joins the discussion on the impact of sanctions against Russia. He examines the limitations of these sanctions in weakening Russia's military capabilities compared to direct aid to Ukraine. Fishman also critiques past U.S. administrations' handling of sanctions, evaluates Russia's economic resilience, and highlights how non-Western countries are helping Russia counteract these measures, affecting the long-term dynamics of the conflict.
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2014 Crimea Annexation and Initial Sanctions
- In 2014, Russia's annexation of Crimea caught the Obama administration off guard, leading to modest sanctions.
- These sanctions restricted Russian access to Western capital but didn't fully block it, giving Putin time to adapt.
Lack of Sustained Pressure
- The lack of sustained pressure on Putin during the Obama and Trump administrations weakened Biden's threats in 2022.
- Putin likely perceived the West's lack of resolve to seriously damage Russia's economy.
Limited Impact of Seizing Oligarchs' Assets
- Seizing oligarchs' assets generated media attention but had limited impact on influencing Putin.
- The process is costly for US taxpayers and can take years due to litigation.