Variation #9
By KS Lack
Print: Variated Edition 2/18
Frame: metal pipes, Russian & English vinyl letters
Immediately after Russia launched its full-scale invasion in February 2022, the U.S., the E.U., and other states worldwide began imposing sanctions. So far, over 21,000 sanctions have been enforced. These include bans on Russian exports (such as oil and natural gas) and imports, particularly technology used to manufacture weapons.
Vast sums of money and other assets—from federal banks to personal yachts—have been frozen or confiscated. Major international companies have ceased selling and manufacturing goods in the country. Russia has one of the largest economies in the world. No country of this size has faced so many sanctions since World War II. They haven’t worked.
This is not to say that Russia’s economy didn’t suffer. In 2022, consumer prices soared, energy company profits plummeted, and the military struggled to acquire technology. But Russia recovered. Now, its economy is actually growing.
As one of the world’s largest producers of oil, gas and raw materials—resources the global economy heavily relies on—Russia has continued to find markets for these goods. When the U.S. and the E.U. attempted to cripple Russia’s exports of these materials through sanctions, countries like China simply stepped in to take their place. Even countries that have adopted sanctions have struggled completely cut their dependence on Russia’s fossil fuels. The lack of a united global response has enabled Moscow to exploit loopholes and get what it needs to fuel its war machine.
In some countries, the decision to help Russia by circumventing sanctions is primarily driven by economic interests. However, it is also true that, in many of these countries, the war is viewed with ambivalence— as a US proxy war—rather than what it truly is: a fight for Ukraine’s survival. In this way, Russia’s disinformation campaigns have proven to be highly effective weapons against the sanctions.(A)
Russia has been adept at capitalizing on the weaknesses of a fragmented global front, betting that the lure of its resources would be enough for many nations to ignore its growing list of atrocities. So far, that gamble has paid off—leaving Ukraine to bear the cost with its blood.
A) For more on Russia’s disinformation ecosystem, see Variation #3.
See below for further reading and background.
Russian Sanctions Dashboard: Total Sanctions Against Russia, Castellum.AI, 22 Feb 22-2 Aug 24.
What are the sanctions on Russia and have they affected its economy?, BBC, 23 Feb 24.
Economy of Russia, Wikipedia.
The Sanctions Weapon, International Monetary Fund, Jun 22.
Why Sanctions Haven’t Hobbled Russia, The New York Times, 16 Feb 24.
How Russia Pays for War, The New York Times, 30 Oct 22.