Putin's big bet: Sanction-proofing Russia

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 25 February 2022

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

The U.S. is imposing economic sanctions on Russia to punish it for invading Ukraine. But Russia has spent years trying to make its economy immune to sanctions. So, will these new sanctions be enough? | Subscribe to our weekly newsletter here.

Transcript

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0:00.0	This is planet money from NPR.
0:07.0	So Russia has invaded Ukraine.
0:10.2	Russia is bombing the country.
0:12.3	Civilians have been killed.
0:14.6	The news is changing quickly, but as we're recording this on Friday afternoon, February
0:18.7	25th, Russian troops have entered Ukraine's capital.
0:22.4	And there are a few things the US can do now.
0:24.2	Short of going to war with Russia, which the US has repeatedly said it does not want
0:28.0	to do, it can support Ukraine's military with equipment and intelligence, which it is
0:33.3	doing.
0:34.3	And it can try to hurt Russia another way, economically through sanctions.
0:41.8	This is the one the US is all in on right now to try to punish Vladimir Putin.
0:46.8	They are sanctioning people close to Putin.
0:49.1	They're sanctioning technology.
0:50.6	They're sanctioning banks, along with the European Union and the UK.
0:55.2	The US is imposing these massive banking sanctions to hurt Russia's economy.
1:01.5	Except Russia saw these sanctions coming years ago.
1:08.3	Hello and welcome to Planet Money.
1:09.6	I'm Sarah Gonzales.
1:10.6	Today on the show, banking sanctions and sanction-proofing, the economic war behind the war on the
1:18.1	ground in Ukraine.
1:20.1	Over the past eight years, Russia has been building a fortress against US sanctions.
	...

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