Fortress Russia: Completely Lost in (Financial) Sanctions Warfare, A Deep Economic Crisis Is Unavoidable

Deuber, Gunter

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@article{ Deuber2022,
 title = {Fortress Russia: Completely Lost in (Financial) Sanctions Warfare, A Deep Economic Crisis Is Unavoidable},
 author = {Deuber, Gunter},
 journal = {Russian Analytical Digest},
 number = {280},
 pages = {2-7},
 year = {2022},
 issn = {1863-0421},
 doi = {https://doi.org/10.3929/ethz-b-000538061},
 urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-87002-7},
 abstract = {Russia has been preparing for years for measured Western economic and financial sanctions as part of its so-called Fortress Russia strategy. With the invasion of Ukraine, an unpredicted and extraordinarily broadbased spiral of sanctions has been unleashed by the Western world. Tools of economic warfare - specifically the freezing of substantial public and private funds - were deployed quickly, while "private" voluntary sanctioning (company withdrawals, supply stops in non-sanctioned sectors, etc.) has been unexpectedly comprehensive. The bulk of sanctions and company withdrawals will likely remain in place for a long time. Russia's economic crisis management has so far appeared eclectic and defensive; stronger countermeasures may yet follow. In the West, a clear strategy is needed to use the hundreds of billions of dollars/euros in frozen Russia-related funds as reparations for the reconstruction of Ukraine.},
}