Sanctions: To Russia with Love

James Galbraith challenges common perceptions about western sanctions and their impact on Russia, revealing unexpected outcomes for its economy and development.

Contrary to the goals of defunding the war and degrading Russia's military capacity, sanctions have led to economic adjustments that have fostered Russia's independent development. Galbraith points out that despite initial disruptions, Russia adapted by focusing on domestic production and diversifying its economic partnerships. This analysis provides a nuanced view of economic sanctions' real-world impacts, suggesting that their effectiveness and consequences are more complex than commonly understood.

[barakau]

So Russia lost McDonalds and Western Europe lost cheap gas.

[sadddee]

The funny part is that Russia now, unlike before, knows that it does not need Europe.

[poebuild]

I lived in Russia for 1 year, and they have a saying - “Don’t dig a pit for someone else, you’ll fall into it yourself.”

[shambalkaran]

The holes dug to destroy Russia have swallowed the diggers

[bogmelochej]

If the USA would have left Russia alone in 1991, there were no war in Ukraine at all. The USA hegemony is the reason for the most conflicts and the lost of millions of lives.

[gpbuceh]

I laughed out loud when English insurance companies stopped insuring tankers carrying Russian oil. This was declared "a severe blow to Russian oil exports." The Russians bought a huge tanker fleet and began insuring it with Russian and Indian insurance companies. What, it wasn’t forbidden to do this before?!😂😂

[j.k.]

Reality is that before this war, Russia was dependent upon west for critical tech and this war has finally made them independent.Sanctions on oligarchs have also forced them to keep money in Russia.It's good to see smart people in west finally realize what happened.

[FeroxV]

Not only in terms of economy the sanctions were beneficial to Russia. Also in social aspect too. During the shock of first few months of the SMO a lot of people who were either not political or opposed to the government, rejected the SMO and was either outright hostile to it or not supportive. A lot of people were not sure about it.

But when the west imposed sanctions and companies left these unsure people felt the hubris and outright hateful hostility towards them from the west. Just because guilt of association and collective punishment methods. These actions actually convinced a lot of people that the Russian government is right, that the Putin was saying the truth. The ideological enemies of the government and NGO-affiliated opposition left the country and the rest of the people unified or at least accepted the reason behind the actions of the government.

[midnike]

And I also suspect that those theorists in the State Department who planned these sanctions just didn't realize one simple thing. Unlike most Western economies, the Russian economy is not based on financial speculation and "consumer services, " but on good old-fashioned real production of goods.

[demonnikto]

Ммм, давление на мирных граждан это супер. Когда детям с особенностями в развитии перестали поставлять жизненно необходимые медикаменты, они должны были побежать свергать Путина. Логика у западных партнеров работает на все сто.

[vjdcleh]

Странно..
Мало кто понимает что это было задумано и против европы. Европейский кабанчик уже стал откормлен и готов на убой, а "хозяин" захотел свежего мясца...
У США нет друзей, есть только "кабанчики" разной степени "спелости"...

[bortstanson]

As a lowly taxi driver, I remember 2 passengers a "banker" from Holland and a "financial analyst" a week after the start of the war, and I remember asking the first one whether it was a good idea to buy Russian Rubles since it had tanked, my idea being it would obviously rebound to its original point and I would make some money from the rebound: he said
"it's pointless, it will never rebound, they're done", I nodded along because he obviously knew better than me (although I had studied Russian history from Kievan Rus to the Mongols, all the way to the USSR days).

The second passenger, a German "financial analyst" in London, I asked him what would happen to the Russian economy, he said "they're done, they will be broken in 2 weeks", I was about to say something about Barbarossa and 1941 but I kept quiet because again I thought, he knows financial things, he's probably right.

Now I know both f ckers knew
f ckall about anything and especially about Russia and finance.

[j.k.]

Now you understand why Putin never complained about sanctions....

[radesimovic]

Russia have sooo much goods that world need.
China especially.
Russia don't need EU

[ralphbernhard]

"If your enemies are making a mistake, don't correct them."
Napoleon
Machiavellian logic.

[vijaybhatnagar]

What Russian sanctions have done—Cemented ever strong bond between China and Russia, Made Russia a more self reliant Economy, A major player in BRICS to expend it further, India stood firmly for it, Created a lot more favorable ground for it in Middle East, Given a new impetus to its new era technology like AI, Semiconductors, Weapon sophistication etc.An over all gain at the expense of shrinking USA/EU influence.

[galimbertino]

I like this guy, stating the facts, an honnest professor.

[Ivan-Dolgouhov]

Запад в своей ненависти сам не понял какой подарок сделал России.
Санкции против банков лишили возможности выводить из России капиталы, заставляя их работать на экономику России.
Уход западных компаний создал условия для развития внутренних производителей.
Постепенный отказ от покупки энергоресурсов помогает нам слезть с нефтяной иглы.
Отказ делится технологиями заставляет вкладывать в науку.
Политика сегрегации русских убедила нас что запад нам не друг.

В россии есть пословица, все что нас не убивает - делает нас сильнее.

[aliskandari]

Here in Russia many thought that we are totally dependent on EU buying gas and and oil. It turned out EU was much more dependent on Russia. We expected that our economy would indeed contract significantly if not collapse, but it didn't. In fact we have merely seen any negative effects on our day to day life. And that's why Putin's approval rating is that high - to our great surprise we've managed to build an economy as stable as we did not dare even to hope to have.

[gurkiratchatha]

I spoke to local Russian business men.one of them said thanks “uncle Biden”. There are factories popping up left, right and centre. What they used to import is increasingly being produced there locally