The Economic War: How Hard Are Sanctions Hitting Russia?
Ukrainecast
BBC
4.7 • 1K Ratings
🗓️ 5 March 2024
⏱️ 27 minutes
🧾️ Download transcript
Summary
Since Russia launched its full-scale invasion of Ukraine, it has been subject to thousands of sanctions from the West - but despite this, Russia’s economy is thriving.
So how is the world’s most sanctioned country getting around them? And what does this tell us about how effective sanctions are? Nataliia Shapoval, Vice President for Policy Research at Kyiv School of Economics and the BBC’s economics editor, Faisal Islam, unpack whether sanctions against Russia are having the desired impact.
Also, we hear from a London-based Russian former billionaire who had his bank accounts frozen following the invasion.
Today’s episode is presented by Victoria Derbyshire and Vitaly Shevchenko. It was made by Keiligh Baker. The producers were Arsenii Sokolov, Cordelia Hemming and Ivana Davidovic. The technical producer was Ricardo McCarthy. The series producer is Tim Walklate. The senior news editor is Sam Bonham. Email Ukrainecast@bbc.co.uk with your questions and comments. You can also send us a message or voice note via WhatsApp, Signal or Telegram to +44 330 1239480.
You can join the Ukrainecast discussion on Newscast’s Discord server here: tinyurl.com/ukrainecastdiscord
Transcript
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| 0:00.0 | BBC Sounds, music radio podcasts. |
| 0:04.6 | Hello, it's 741 days since Russia began its full-scale invasion of Ukraine. |
| 0:09.6 | And since the invasion, the UK has sanctioned 1,702 people, including President Putin and those |
| 0:19.0 | who are closest to him. |
| 0:20.8 | The UK has also sanctioned 298 organizations including Russian banks, media companies and political |
| 0:27.3 | parties. |
| 0:28.3 | But have a listen to this. |
| 0:30.8 | You cannot hurt Putin with another resolution or another set of sanctions. |
| 0:37.0 | That is no different from the previous ones. |
| 0:40.0 | You cannot defeat him by thinking he is a man of principle who has morals and rules. |
| 0:49.0 | He is not like that. |
| 0:50.5 | Alexei realized that a long time ago. |
| 0:54.0 | You are not dealing with a politician but with a bloody monster. |
| 0:59.0 | That was Yulia Novalna, the widow of the late Russian opposition leader Alexei Novalne, who says that Western sanctions are not working and it's something that we keep hearing from politicians and our listeners as well. |
| 1:15.6 | Even though Russia has become the most sanctioned country in the world following the start |
| 1:21.2 | of the full-scale invasion, it's still able to import technology |
| 1:27.0 | for its weapons and export oil and gas which gives it a lot of money. |
| 1:34.0 | And so on today's episode, we're going to really look in detail about whether the sanctions are working. |
| 1:39.0 | If they're not, what needs to be done to make them more effective. |
| 1:42.0 | And what is actually impacting Russia's ability to wage war. |
| 1:46.0 | Plus we hear from a London-based Russian former billionaire who had his bank accounts frozen as part of a crackdown after February 2022. |
| 1:58.6 | This is Ukraine Cast. Ukraine Cast from BBC News. Ukraine is from babies. |
... |
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