Beyond it, the Western countries trying to cripple the Russian economy have waged an economic war by using their arsenal of sanctions.

On the battlefield, the catastrophic war has created death and destruction. On the February 24, 2022, Russia invaded Ukraine in an escalation of the Russo-Ukrainian war, which began in 2014. It thus becomes imperative to consider the far-reaching impacts of such decisions, given the interconnected nature of global economies. This reduced market access potentially triggers profit losses and job cuts in the enforcing country, hitting particularly hard in sectors that rely heavily on international trade. While sanctions aim to pressure targeted countries, it's critical to scrutinize their reciprocal impact on the enforcing countries' economies.Įconomic sanctions inherently restrict trade and investments with the sanctioned nation. Yet contrary to the common perception that sanctions solely impair the targeted nation, the reality is far more complex. Such measures can take the form of trade embargos, freezes on financial assets or restrictions on technology transfers. Nations deploy economic sanctions as a critical tool to sway or coerce another state's behavior, primarily for political or economic objectives.