Oleg Itskhoki
Economist and professor at Harvard University specializing in international macroeconomics, exchange rates, and capital flows, and co-author of the paper 'Sanctions, Capital Outflows and Financial Repression'.
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Mar 6, 2026 • 18min
S9 Ep17: Sanctions and financial repression
Oleg Itskhoki, Harvard economist known for work on exchange rates and capital flows, discusses how financial repression works and why governments use it. He recounts Russia’s 2022 measures like forced currency conversion and withdrawal limits. He examines when such tools can halt crises, the political difficulty of reversing them, and the risk they pose as a long-term alternative to fiscal reform.
