Will Economic Sanctions Be Enough To Stop Russia’s War On Ukraine?

Will Economic Sanctions Be Enough To Stop Russia’s War On Ukraine?

The US has enacted a series of sanctions in collaboration with partners to isolate Russia from the global financial system and reduce its military advantage. These restrictions join a slew of others imposed by Washington in the aftermath of Russia's annexation of Crimea in 2014. The most serious sanctions to date have been imposed on Russia's central bank. The US has effectively frozen the bank's US assets, barring it from using its international reserves to prop up the Russian ruble's value, and has blacklisted a key Russian sovereign wealth fund, further limiting Moscow's access to global funds. The US and its allies are also attempting to expel some Russian banks from the SWIFT, a Belgian-based interbank messaging system.