As Russia stepped up its aggression in opposition to Ukraine to the purpose of a full-fledged invasion, the U.S. and its allies unleashed a sequence of historic and unprecedented financial sanctions.
“It is a form of coordination that we have not seen in a multilateral sanctions program for a very long time,” stated Esfandyar Batmanghelidj, CEO of Bourse & Bazaar, an financial assume tank. “And the second factor is principally pace, the way in which through which the sanctions have been in a short time utilized to Russia. Shifting from a interval through which we had been speaking about fairly focused measures to principally broad monetary sanctions is outstanding and might be essentially the most unprecedented side of the sanctions program to this point.”
Russia has now overtaken Iran as the most sanctioned country on the earth. However because the historic instance of that Center East nation exhibits, sanctions additionally carry unintended penalties. What occurs to on a regular basis Russian residents with their nation being more and more remoted from the world’s monetary and financial methods? Does Russia transfer nearer to Western adversaries resembling China and Iran?
Watch the video above to search out out what financial strikes the U.S. and its allies have taken, and what’s subsequent as a brand new financial chilly struggle continues.