This article, which is top of the FT’s most-read list, is well worth a read. Check it out!
Let’s be clear, Russian consumers will feel the pain and this will create a domestic challenge for President Putin. Western leaders should think very carefully about inflicting further economic pain on Russia when she is already suffering. A wounded bear is especially dangerous. Russian people have very long memories. I remember a Russian friend telling me how much Russians admired Winston Churchill for running the German blockade to bring supplies to Russia by sea in WWII.
Because of collapsing oil prices, it’s an opportunity for the West to gain political traction by reducing economic sanctions on Russia?