Ukraine Unrest

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Avoiding Military Force, United States Should Pressure Russia With Economic Sanctions

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In Snizhne, Ukraine, rescue workers on July 15 searched for survivors when an apartment building collapsed after being hit by a missile.
  • Why it matters

    Why it matters

    The West will be hurt financially, too, but use of military force at this point would be irresponsible and even more costly.

  • Facts

    Facts

    • The economic sanctions for its military action in the Ukraine will cost Moscow dearly.
    • Banks worldwide will follow the U.S. lead.
    • After sanctions were imposed against Iran, the U.S. and Germany lost billions in business.
  • Audio

    Audio

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Now it will get expensive — for both sides.

The West is increasing the pressure on Russia. The first serious financial sanctions have been imposed against Russian companies. The sanctions will hit the crisis-ridden leviathan empire hard. Don’t be fooled by the Russian propaganda machinery with its slogans of “Nothing can bother us.”

With enormous income from the export of oil and natural gas, almost $500 billion (€370 billion) in foreign exchange reserves, a broad-based industry — Russia would see immune to sanctions. That’s a fallacy.

The slogans from Moscow are similar to ones we know from Iran. That rich oil-producing country also once scoffed, “The West can’t hurt us.” A short time later the country was at the negotiating table.

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