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Russian Economy Rocked by Unprecedented Western Sanctions

February 28, 2022

Episode Notes:

Over the weekend, the United States and Europe announced some of the most wide-ranging sanctions ever against Russia. The move comes after Russia’s invasion of Ukraine shocked the Western world into action. This morning, the Russian central bank raised interest rates from 9.5 to 20 percent in a move to shore up the ruble, which fell 30 percent against the dollar in early trading. As Russian tanks continue to roll into Ukraine, the Russian economy is on the brink.

To discuss the thinking behind the sanctions and what they mean in practice, we’re joined on the Warcast by Julia Friedlander. Julia is the C. Boyden Gray senior fellow and director of the Economic Statecraft Initiative at the Atlantic Council. Previously, she worked at the Treasury Department, National Security Council, and CIA.

[ 01:04 ] Type of sanctions

[ 03:00 ] What stands out

[ 04:39 ] Enforcement challenges

[ 06:57 ] What’s next

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