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The Political Scene | The New Yorker

The West Wages Economic War on Russia

The Political Scene | The New Yorker

The New Yorker

President, Barack, News, Politics, Wnyc, Obama, Lizza, Washington, Wickenden

4.33.9K Ratings

🗓️ 10 March 2022

⏱️ 24 minutes

🧾️ Download transcript

Summary

Facing enormous pressure to respond to Russian aggression in Ukraine but fearing the consequences of a hot war between Russia and the West, the European Union, the United States, and several other nations have levied heavy sanctions. These have caused the ruble to lose forty per cent of its value against the U.S. dollar and forced the closure of the Moscow stock exchange. But will the sanctions have any effect on Putin’s war? John Cassidy joins Dorothy Wickenden to discuss the Russian President’s economic miscalculations, the effects of sanctions on Russia’s economy, and the political and environmental opportunities for the Biden Administration.

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Transcript

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This is the political scene, a weekly conversation with New Yorker writers and guests about

1:16.9

politics. It's Thursday, March 10th. I'm Dorothy Wickenden, executive editor of The New Yorker.

1:24.1

In the two weeks since Russia began its invasion of Ukraine, Western countries have faced enormous

1:30.4

pressure to defend Ukrainians and stop Russian aggression. Fearing the consequences of an armed

1:36.6

conflict between Russia and the West, the United States, the member states of the European Union,

1:43.1

and several other countries have levied severe sanctions designed to decimate the Russian economy.

1:49.0

Russian assets abroad have been seized, the country's access to international banking systems has been curtailed,

1:57.0

and partnerships between Russian companies and Western companies have been scuttled.

2:02.4

The sanctions are devastating.

2:05.3

The ruble has lost 40% of its value against the U.S. dollar.

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