The war of aggression against Ukraine has been ongoing for years, and the focus on the defense often diverts attention from the economic war that is happening simultaneously. The US and EU impose sanctions on Russia regularly to hinder its ability to continue the war. However, there are analyses, data, and disinformation suggesting that these sanctions are ineffective.
To gain clarity on this topic, Ilana Bet-El invited Agathe Demarais, Senior Policy Fellow for Geoeconomics at the ECFR, who is an expert on sanctions. In their conversation, they discussed economic measures, countermeasures, and provided insights into the broader economic context of the war against Ukraine. Additionally, they analyzed the global economic situation and its potential future impact.
As they say in Cabaret: “That clinking, clanking sound can make the world go ‘round!” This episode was recorded on June 18, 2024. Listeners can find this episode on Apple Podcasts and Spotify for more insights.
It’s important to note that the opinions expressed in this episode are solely those of the author and may not represent the views of all European Leadership Network members or subscribers. The ELN aims to foster discussions that will enhance Europe’s ability to address current foreign policy challenges. Stay updated by following us on social media and visiting our website for more information and resources related to this topic.
The image credit goes to Florence Ferrando.
In conclusion, while sanctions are an important tool used by governments to prevent aggression against a neighboring country, their effectiveness should be evaluated based on concrete data and evidence rather than disinformation or political rhetoric. By focusing on both military defense and economic measures together, we can gain a better understanding of how wars affect economies and how we can mitigate their impact in the long run.