The economic sanctions are unprecedented in both size and scope. The strongest blow was dealt by freezing assets of Russia’s Central Bank and the largest Russian sovereign wealth fund. Without reserves, the ruble has fallen to historic lows. To further isolate Russia, many countries have expelled Russian banks from SWIFT services and have targeted specific sanctions on top banks, key Russian oligarchs, as well as on President Putin and his inner circle. No sanctions regime – including the nearly half-century of sanctions on Cuba -- has been so completely unrelenting.  But is this new economic weapon a two-edged sword in a globalized world? 

Altamar hosts Peter Schechter and Muni Jensen are joined by Larry Summers, former Treasury Secretary. Altamar’s ‘Téa’s Take’ by Téa Ivanovic delves into the impact of sanctions on the Russian people.  

 

-----

Produced by Simpler Media