The unprecedented measures proposed by the US, the EU and the UK could create chaos in Russia’s economy and impoverish its population

By Isobel Koshiw.  Published 2-8-2022 by openDemocracy

Russian President Vladimir Putin Photo:: Kremlin.ru

Proposed Western sanctions could almost cut Russia out of the global financial system, creating chaos for the Russian economy and impoverishing ordinary Russians, experts have warned.

The measures threatened by the US, the EU and the UK if Russia incurs further into Ukraine would be unprecedented. Previous countries that have faced similar sanctions – such as North Korea and Iran – were peripheral to the global markets in comparison to Russia. Continue reading →