U.S. Treasury Assesses Impact Of Sanctions On Russia
U.S. Government Warns About Secondary Sanctions To People Or Entities Supporting Russia's War
October 17, 2022—As Russia has waged war against Ukraine and Ukraine fought back, Western governments have carefully weighed in on the battle through the global financial system. It's a powerful economic coalition that comprises 37 countries.
The U.S. government alone issued roughly 1,500 new sanctions and amended 750 more. They target Russia's defense industrial base, the aerospace sector, the microelectronic industry, financial institutions, elites and oligarchs, luxury goods, and oil refining.
The sanctions are having an impact on the Russian economy. But is it enough to have an impact strong enough to end the war?
Impact of Sanctions
On Friday, the U.S. Treasury Department rele...