Valdai Club

On March 3, the Valdai Club hosted an expert discussion titled “The Vicious Circle of Sanctions: Can Russia and the West Surprise Each Other?”

One of the consequences of the outbreak of hostilities in Ukraine was an unprecedented wave of economic sanctions against Russia by several foreign states. New restrictive measures hit the Central Bank and a number of large financial institutions. They affect the extractive sectors of the economy and infrastructure companies. The West chose to oust Russia from the European and world raw materials markets. Strict export control rules have been introduced, affecting high-tech goods and striking civil aviation. However, the “sanctions bottom” has not yet been reached. A further escalation of sanctions should be expected. Foreign business is rapidly introducing its own informal boycotts, and freezing transactions. Informal sanctions penetrate into the spheres of science, art, sports and other areas not normally connected with politics.