US Sanctions on Russia Less Effective Than Expected, Study Finds

Researchers argue that a more forceful and unified approach could have had a greater impact on Russia's economy.

A new report by Harvard and Peterson Institute economists highlights the limited impact of US sanctions on Russia since the 2022 invasion of Ukraine.
Researchers suggest that immediate, comprehensive sanctions would have been more effective than the piecemeal approach taken.
Russia's economy showed resilience due to prior experience with sanctions and support from non-participating countries like China and India.
The sanctions' effectiveness was further diluted by Russia's ability to circumvent oil price caps and assemble its own fleet of tankers.
The study emphasizes the need for global cooperation and a clear doctrine on economic statecraft to enhance the future effectiveness of sanctions.