Sanctions on Russia are different this time

Cambridge

THE surprising potency of the multilateral sanctions imposed on Russia has been exceeded only by that of Ukrainians' resistance to Russia's invasion of their country. True, it is difficult to imagine that sanctions will bring the Russian economy to its knees faster than Russian troops are able to capture Kyiv or lay waste to the country. But, ultimately, Russia will lose much in this war.

Back in December, US President Joe Biden warned Russian President Vladimir Putin that severe sanctions in response to a Russian invasion of Ukraine would impose "a terrible price". Yet, many viewed these threats as exaggerated bluster.