Almost a year and a half into Russia’s invasion of Ukraine, sanctions imposed by the West have damaged, but not devastated, Russia’s economy. The current measures are diverse and unprecedented. The Russian ruble is hitting new lows, causing Russia to struggle. In a report we recently prepared for the RAND Corporation on international sanctions, we found that sanctions have shrunk oil and gas revenues in the federal budget and paralyzed essential Russian industries such as auto manufacturing and metallurgy. But the West can do more to both ensure that existing measures are effective and increase economic pressure on Russia to degrade its warfighting capability, thus giving Ukraine a cha
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