Russia’s adaptability to US sanctions stymied their effectiveness, economists say

Associated Press

WASHINGTON (AP) — Two researchers write in a new paper that Russia was able to brace for the financial penalties imposed after its invasion of Ukraine because of the lessons learned from sanctions imposed in 2014 after it invaded Crimea. Also, the impact was weakened by the failure to get more countries to participate in sanctions, with economic powers like China and India not included. Oleg Itskhoki of Harvard University and Elina Ribakova of the Peterson Institute for International Economics argue that the sanctions should have been imposed more forcefully immediately after the invasion rather than in a piecemeal manner.