Published Online:October 2024
Product Name:The IUP Journal of International Relations
Product Type:Article
Product Code:IJIR021024
Author Name:Conor Carmody and Kishore G Kulkarni
Availability:YES
Subject/Domain:Arts and Humanities
Download Format:PDF
Pages:12
In the 21st century where global superpowers have introduced the possibility of mutually assured destruction through the invention, testing, and, in the case of the United States, the intentional use of nuclear weapons on a population, it seemed unlikely that the Western reaction to a European country being invaded by one of its neighbors would be to spark another World War, 83 years after the last. When Vladimir Putin went through with his invasion of Ukraine in February 2022, the Western world responded with sanctions. Sanctions have a long history of being imposed upon countries in order to punish that country for a number of reasons, one reason being that the sanctioned country broke international law. These sanctions are imposed in order to pressure the sanctioned country to correct its behavior through crippling its economy. Clearly the thousands of sanctions on Russia have not changed their approach to Ukraine. So why are sanctions not working? Is it that the sanctions imposed are not costly enough to cripple Russia’s economy and force their hand? Is it that sanctions cannot be fully enforced and Russia will find a way around them? Whatever the reason may be, many experts argue that sanctions result in many externalities which are transferred to the common people in and outside of the sanctioned economy
In this paper, we have two objectives when it comes to the analysis of the Western sanctions on Russia. First, we plan on analyzing the effectiveness and the possible externalities of the Western-imposed sanctions on Russia. For this paper specifically