Sergey Sukhankin
The United States and European Union must persuade buyers of Russian goods to comply with sanctions to avoid repeating the pattern observed between 2014 and 2024, when international sanctions initially appeared highly threatening but ultimately had limited effects on the Russian economy.
In late October, the United States and the European Union introduced a new set of economic sanctions targeting the Russian Federation. The fuel and energy sectors emerged as the primary focus of these measures (see EDM, October 27). Western governments justified this approach because the sector—which is estimated to account for approximately 30 percent of total revenues in the Russian state budget—remains a crucial financial pillar sustaining Russian President Vladimir Putin’s regime and enabling its ongoing war of aggression against Ukraine (see EDM, March 24; Freedom, October 26; see EDM, February 27, November 4). There are numerous measures Russia may employ to circumvent these measures and mitigate their economic effects (see EDM, January 27, April 28). These include defensive and countermeasures that the Russian government could implement to reduce the intended harm of the sanctions and impose reciprocal costs on the principal architects of these policies.
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