Who is most harmed by Western sanctions imposed on the Kremlin? As soon as Russia invaded Ukraine, the West began its own economic attack on Russia. Unprecedented sanctions were applied by the US, the EU, and other parties.
However, many months later, Europe is experiencing a severe economic crisis and skyrocketing prices. Russia’s ruble is still strong and it is still funding its war machine. In this DW Business special, Elina Ribakova, the deputy chief economist at the Institute of International Finance, and I talk about whether the sanctions have backfired on the West.