The 'Sugar High' of the Russian Economy is Ending: Analysts Assess Sanctions.

Sanctions against Russia are largely ineffective, and Europe is unwilling to invest significant effort into strengthening them. This opinion was expressed by The Economist in its analytical article on sanctions. The Washington Post, in turn, published a call from a former official to ease sanctions against Russia in exchange for the release of illegally detained Americans.

In light of the US announcing a new package of sanctions in support of Ukraine, discussion about the effectiveness of the sanctions regime has intensified in the Western media.

The US has imposed sanctions on nearly 400 individuals and organizations, including 123 companies, most of which are from Russia and China.

The US also wants to reinforce the sanctions regime against Russia concerning banks, warning other countries about the possibility of secondary sanctions.

The head of the Russian bank VTB acknowledges the effectiveness of American sanctions, but at the same Time, Russia circumvents European sanctions by exporting goods through other channels.

The Economist recommends that Europe work with Central Asian countries to strengthen the sanctions regime, similarly to how Armenia shut down companies that cooperated with Russia after receiving support from Europe.

It is also worth limiting the export of oil and gas from Russia to make the sanctions more effective.

However, some analysts are overly optimistic about the state of the Russian economy, notes a professor from Yale University.

The Washington Post published a call to the US President to make the release of Americans held by Russia a top priority of his presidency.

Lifting sanctions should be part of the peace negotiations and normalization of relations with Russia.

Source: Voice of America