Russia's adaptability to US sanctions stymied their impact: Economists

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Russia's adaptability to US sanctions stymied their impact: Economists - Business Standard

Quick Summary:

Oleg Itskhoki of Harvard University and Elina Ribakova of the Peterson Institute for International Economics argue that the sanctions should have been imposed more forcefully immediately after the invasion rather than in a piecemeal manner.

In retrospect, it is evident that there was no reason not to have imposed all possible decisive measures against Russia from the outset once Russia launched the full scale invasion in February 2022, the authors state in the paper.

Waves of sanctions imposed by the Biden administration after Russia's invasion of Ukraine haven't inflicted the devastating blow to Moscow's economy that some had expected.