Why sanctions won't stop Russia | Business Beyond

It’s almost two years since Russia invaded Ukraine and the war is not ending anytime soon. The Ukrainian counter-offensive of 2023 has not brought the gains the country’s leaders and western backers hoped for. The pressure is on both the US and EU to keep providing Ukraine with the military and financial support it needs.
Meanwhile Vladimir Putin looks more confident than ever. This time last year, western powers introduced an oil price cap aimed at seriously denting the Kremlin’s capacity to earn revenue from its oil exports. It worked for a few months but Russia has found ways around it. Meanwhile, its economy continues to function reasonably well, despite the range of sanctions levelled at it.
In this episode of Business Beyond, we ask if there are economic scenarios that could force Russia to the negotiating table. Or if the Kremlin simply has enough financial firepower to keep going - however long it takes.
Chapters:
00:00 Introduction
01:55 Sanctions explained: the price cap
05:46 Russia finds a workaround
09:08 With a little help from his friends
11:38 Russian economy: reality v wishful thinking
14:55 What the West can do
19:55 Conclusion: Why Russia is winning
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