Are the Sanctions on Russia Finally Working?
Russia’s brutal war in Ukraine is now in its fourth year. In recent weeks, President Donald Trump has held several high-level meetings to explore ways to end the conflict. How serious are these efforts, and what would it take to ensure Ukraine’s long-term security?
When Russian forces invaded in February 2022, many expected Western sanctions to cripple Moscow’s economy and limit its ability to fight. Yet, Russia’s economy has remained surprisingly strong. What explains this resilience? And what could the international community have done differently?
Today, signs of economic slowdown are becoming clear in Russia. Could this downturn finally start to weaken the Kremlin’s war machine? What effect might a recession have on the battlefield? And how can Ukraine’s allies keep supporting the country while preparing for reconstruction and future EU membership?
These questions were discussed by:
- Cecilia Malmström, Nonresident Senior Fellow at the Peterson Institute for International Economics (PIIE)
- Torbjörn Becker, Director of the Stockholm Institute of Transition Economics at the Stockholm School of Economics,
- Jacob Funk Kirkegaard, Nonresident Senior Fellow at PIIE.
For more information about the event, visit the Peterson Institute for International Economics.
To learn more about sanctions on Russia and Russian economic retaliation, explore the SITE Sanctions Project — a hub that collects, organizes, and shares insights, data, and analysis on the evolving landscape of sanctions against Russia.
