DEEP DIVE — Greater than two and a half years after its full-scale invasion of Ukraine, Russia’s financial system exhibits stunning resilience. Regardless of an unprecedented 2,000 sanctions focusing on its firms, monetary establishments and elites, the nation’s factories nonetheless churn, its oil gross sales growth, and Russian President Vladimir Putin maintains a agency grip on energy.
Why haven’t all of the worldwide penalties delivered the supposed crippling blow? The reply lies in a fancy interaction of geopolitics and the technicalities of imposing sanctions on a resource-rich nation.
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