Western sanctions introduced in connection with the Russian invasion of Ukraine cannot stop the war, says Volodymyr Fesenko.
Fesenko, chairman of the board of directors of the Center for Applied Political Research “Penta” in Kiev, shared his opinion in an interview with the UNIAN news agency, noting that weapons are necessary to stop aggression.
“Sanctions will not stop the war. This requires only weapons, only violence, only strong military and political pressure on Russia. The possibility of destroying the Russian economy with sanctions is a false view, the expert said, pointing out that the impact of sanctions on large states should not be overestimated.
“Huge sanctions have not destroyed Iran’s economy, they have not destroyed North Korea’s economy. Sanctions cannot be an effective weapon against Russia, which maintains contacts with major economies such as China, India, Turkey and some other countries of the Global South, Fesenko said.
However, the expert emphasizes that while sanctions cannot stop the war, they weaken the aggressor’s economy.
“They can weaken the Russian economy, and they are. This is confirmed by the situation with the exchange rate of the Russian ruble. The sanctions may weaken Russia’s military potential to some extent. But they cannot “kill” the Russian economy. In addition, Russia has built a system that allows it to partially circumvent sanctions, the expert explained.
Sanctions against Russia
Since the start of the large-scale war, a large number of sanctions have been imposed on the Russian Federation, making it almost impossible to acquire military or dual-use goods in most countries. However, Russia evades sanctions thanks to hidden imports.
In April 2023, the media reported that the EU intends to restrict exports to countries that assist the Russian Federation in circumventing sanctions.
On May 8, 2023, it appeared that the EU will close its ports for those who would like to circumvent the sanctions. It was also reported that the G7 countries intend to step up the fight against “deceptive practices” that allow Russia to trade oil at prices above a fixed ceiling, using Putin’s “shadow fleet”.
Ukrainian President Volodymyr Zelensky announces a public crackdown on countries that help Russia evade sanctions.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
