LMC 2024: Let Us Not Despair, But Act

The Wonderful World of Sanctions and Export Controls

Sanctions and export controls introduced by Western countries in response to Russia’s war of aggression have been comprehensive. The aim of export controls has been to target the Russian military-industrial complex, while economic sanctions have tried to curb the state budget. Despite the broad-spectrum sanctions, Russia has been able to keep up its war effort seemingly untouched. What has the true impact of sanctions been? Why is Russia able to bypass sanctions relatively effectively? What lessons will other countries learn about Western threats of sanctions and their effectiveness?