Despite more than 20,000 sanctions imposed on Russia since 2022, the country’s economy continues to grow. In a recent Sweden’s Herald article, experts analyzed how Russia has managed to adapt to Western restrictions while maintaining its war financing capabilities ahead of the Trump–Putin summit in Alaska.
Sanctions expert Maria Perrotta Berlin, Assistant Professor at the Stockholm Institute of Transition Economics (SITE) and researcher at the Stockholm School of Economics, explained that although sanctions have constrained Russia’s access to capital, they have not achieved their intended impact.
“The sanctions are large and powerful, but they have always come a little too late. Russia has had time to adapt and find ways to circumvent them — and so we have to find ways to plug the loopholes. We are always one step behind.”
The article further explored the geopolitical implications of new potential U.S. sanctions, including measures against Russia’s “shadow fleet” and countries still trading with Moscow, such as India and China. Broader discussions also touched on the sustainability of Russia’s war economy and its long-term social costs.
For a deeper look into the full analysis and Maria Perrotta Berlin’s insights, read the complete article in Sweden’s Herald here.
Further Reading
Reducing Russian income requires a comprehensive approach centered on four key areas.
- The foremost priority is limiting energy exports, as these generate major revenues and sustain Russia’s fiscal stability through their deep economic influence.
- The next step is restricting access to critical materials, components, and technologies vital for weapons production, thereby constraining Russia’s military capacity.
- A third layer focuses on broader trade and financial restrictions, designed to reduce efficiency and market access across the economy.
- Finally, sanctions such as individual travel bans and airspace restrictions serve primarily symbolic and normative purposes but also exert meaningful indirect effects by influencing public perception, political behavior, and international reputation.
Explore the latest research on sanctions against Russia in the Sanctions Portal Evidence Base section. Learn about the main sanction packages imposed by Western allies following Russia’s full-scale invasion of Ukraine, as well as Russian countermeasures, by visiting the Timeline of Western Sanctions and Russian Countermeasures.
