Do Economic Sanctions Work?

Most of the tactics that allies are employing to stem Putin’s aggressions in Ukraine are economic in nature: oil and gas embargoes, severe international banking restrictions, shutdowns of foreign business operations, and more — all with the objective of crippling aspects of Russia’s economy. But will they work? Is handcuffing a country’s economy an effective way to counter aggression? Historical evidence suggests that sanctions are no panacea — and they often come with unintended consequences that are sobering at best.

This conversation was part of the 2022 Aspen Ideas Festival.

Speakers:
Robin Wright, Joint Fellow, U.S. Institute of Peace and Woodrow Wilson International Center for Scholars; Contributing Writer, The New Yorker

Nicholas Mulder, Assistant Professor, History, Cornell University

Now in its 18th year, the Aspen Ideas Festival is the Aspen Institute’s signature summer public event. Among the key themes explored at this year’s festival are conversations around the concepts of Heat, Power, Connection, Trust, Money, and Beauty.

From June 25-July 1, 2022 more than 300 leaders and innovators gather in the Rocky Mountains to engage in deep and inquisitive discussion of the issues that shape our lives and challenge our times, spanning politics, business, science, the arts, education, and more. #AspenIdeas