Russia’s economy was shut off from the international banking system, its overseas assets were frozen, and its energy exports were targeted.
I recall hearing terms like “crippling,” “debilitating,” and “unprecedented” used to characterize the sanctions by Western officials and pundits. When one heard terms like these all over the radio, it was obvious what was going on. Russia’s economy was not going to be able to bear the strain.
The possibility of an economic collapse would compel the Kremlin to concede and remove its troops. Would it not?
Even after 27 months, the conflict continues. Instead of collapsing, Russia’s economy is expanding.
The Russian economy is expected to increase by 3.2% this year, according to the IMF. Even with the caveats, that is still higher than in any advanced economy in the world.
The reporter reads: In spite of sanctions, why is Russia’s economy expanding?
Shop shortages have not resulted from the “debilitating” penalties. The store shelves in Russia are stocked to overflowing. It’s true that growing costs are an issue. Not everything that was formerly available for purchase is still available, as several Western businesses left the Russian market in opposition to the invasion of Ukraine.
However, a lot of their goods continue to enter Russia via a number of different channels. You can still find American cola in Russian stores if you search hard enough.
