The West has hit Russia with tough sanctions. They could be tougher still
When the Biden administration announced its first round of financial sanctions targeting Russia last week for its invasion of Ukraine, it described them as “unprecedented” measures. In the days since the initial announcement, the United States and its allies have substantially increased the pressure on Russia, broadening the scope of the sanctions and bringing in additional partners to intensify the multilateral squeeze.
The speed with which the current suite of measures has been arranged is impressive. They are already inflicting real damage on the Russian economy. Most costly are the sanctions targeting the Russian central bank.
But calling the sanctions unprecedented is an exaggeration.… Seguir leyendo »