The sanctions against Russian have been described as 'unprecedented'. In this column written for Vox.eu, Professor Peter van Bergeijk argues that not only are the current sanctions not unprecedented, in their current form they are also unlikely to work.
He further argues that the current sanctions packet sufficient to realistically expect that they will work, as sanctions against military adventures have a significantly lower probability of success.
The weak 2014 sanctions against Russia’s annexation of the Crimea reduced the credibility of broad-based EU sanctions and or the threat of scaling up targeted sanctions. The West could do better by including an embargo on capital goods and a boycott of Russian energy.
Read the full article on the Voxeu website - 'Sanctions against the Russian war on Ukraine could be made to work'