The Financial War Part III

Part III of our excerpt on the financial war between Russia and the West is now available. Bottom line up front, the financial tools that the West has used to coerce Russia have not had the immediate effect that many had hoped.

The impact of the Western financial campaign against Russia remains uncertain.

In the short term, the campaign of financial coercion has neither made it impossible for Russia to continue its war nor dissuaded the Kremlin from pursuing its invasion. The financial campaign has not destroyed the Russian economy, and it is difficult to isolate the economic and military components of the damage that the economy has suffered thus far from financial warfare. The Western campaign has not prevented Russia from accessing foreign military assistance. However, it may have limited the extent to which Russia could do so and the partners with whom Russia could work.