Have sanctions against Russia backfired? | DW Business Special

Who is hurting the most as a result of Western sanctions against the Kremlin? When Russia invaded Ukraine the West was quick to launch its own attack on Russia’s economy. The EU, US and others imposed a sanctions regime like never seen before. But months down the line, Europe is suffering an economic downturn and soaring inflation. Meanwhile Russia’s currency remains strong and it continues to fund its war machine. In this DW Business special we discuss whether the sanctions have back-fired on the West with Elina Ribakova, deputy chief economist at the Institute of International Finance.

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[cranteri]

If you ask an European, they’ll say Russia suffered most. If you ask a Russia, they’ll say Europe.

[ivandimitrovivanov]

It is not only about energy...it is about the future of the industrial Europe.

[TJ-hsqm]

Problem with these economic advisors is, that they often act as ideologists rather than independent scientists. If she would be honest to the viewers, she would name the margin of error of what ever the computer models have predicted for the Russian economy. She would also cite other peer reviewed articles that support her claim.

[Gasanwu]

Why isn't anyone asking, who is the biggest winner in this conflict? i.e. US energy exporters and US military-industrial-complex.

[willkuerlich]

No matter how often the EU says otherwise, it is on a MAJOR decline..

[m.junaidmahmood]

One thing for sure, these sanctions and war is now affecting people outside europe as well who have nothing to do with the war or europe. Inflation is now all quite high globally from south America to New Zealand.

[jeanseelanatha]

UK is still buying Russian oil but through a third party,

[joseraagas]

Journalism nowadays means more on whom or where your paycheck came that is where your narrative or story went through..

[thomaslam]

Are you sure EU is working on the "sanctions"? French company still doing oil and electronic business with Russia, Hungary still buying energy.

[drevilatwork]

Europe already had the highest energy costs in the world decade before 2014 because high taxes on everything including energy. The fact that Putin friendly politicians chose to replace nuclear energy with Russian gas didn't help either

[cubic]

Sanctions always backfires. The trick is to hurt your enemy more than yourself. It's a two edge sword.

[duncansmith]

"isolation from the global economy"...I guess she thinks record Russian trade with China, India, Africa is domestic and not global! Not much of an "expert" this one!

[lawrencevanhelden]

Well my electricity and gas price for household of 2 person Going from 160 to 850 each month I would say the normal working People are suffering most.

[paulmurray]

The important question is, what choices did Europe have? Allow Russia to have its way in Ukraine, delaying the inevitable confrontation or acting now and disengaging economically from Russia? All in all, despite the problems in Europe, they pale in comparison to what is happening and what will continue to happen to Russia. Sanctions grind slowly but they do grind and degrade.

[bittoochatterjee]

Russia Suffering 🤔🤔😕😕
Russia : Oil Oil Oil 50 % Discount .... 50 % Who Want's Oil
India : Me Me Me Take Money From Me Me Me
Russia To Western World : Hold My Beer

[superwag]

To the casual observer, the UK seems to be going broke rapidly 🤔

[haixinzheng]

She's saying that European exports could be more attractive as euro weakens, however, she completely neglected the fact that the soaring energy price has pushed up the cost of production in the EU, and completely cancelled out the effect of weakening euro, factories are moving out of the EU due to the higher cost of production which would leave the EU with only the historic high inflation.

[SkepticalChris]

Currency strength is not an accurate measure if economic health because you can use political measures to artificially inflate currency values.

[DelanoMoll]

Indian Rupee is now used for international trade among Russia China Brasil Saudi Arabia

[mellownuance]

Europe’s biggest problem is reliance, political influence of US. Even if Russia is bettered by EU, this issue will stand, but ok 👍