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The Indicator from Planet Money

Russia's sanctions, graded

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 29 June 2022

⏱️ 10 minutes

🧾️ Download transcript

Summary

On a scale of 1 to 10, how effective are the sanctions on Russia? Today on the show, we're grading the hodgepodge of sanctions aimed at persuading Russia to withdraw its troops from Ukraine.

Transcript

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0:00.0

NPR.

0:12.0

This is the indicator from planet money.

0:13.6

I'm Patty Hirsch.

0:14.8

And I'm Adrienne Ma.

0:16.1

Russia has been the target of sanctions for more than four months, ever since it started

0:20.6

invading Ukraine back in February.

0:23.1

And in fact, this past week, the G7 just slapped a new sanction on Russia banning all imports

0:28.4

of gold from the country.

0:30.0

But how successful are all of these sanctions?

0:32.6

Russia is still fighting in Ukraine.

0:34.6

It's still making heaps of money selling oil and gas.

0:37.2

And its currency, the rubble, which President Biden once said would be reduced to rubble,

0:41.5

is somehow resurgent.

0:43.8

On the other hand, the sanctions do seem to be having an impact in other areas.

0:48.2

Russia's economy is predicted to shrink by 10% this year.

0:51.9

And the country just defaulted on its foreign debt.

0:54.8

But let's not lose sight of the fact that these sanctions are aimed at trying to get Russia

1:00.5

out of Ukraine.

1:02.7

And so how do you actually measure whether these sanctions are effective for that?

1:07.7

So we're going to score the sanctions as we do on the indicator with some numbers.

1:13.6

That's coming up after the break.

1:21.2

The sanctions against Russia fall into three main areas.

...

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