Title: Sanctions on Russia: Effectiveness and Impacts – EuropeNow
Headings: Sanctions on Russia: Effectiveness and Impacts
Sanctions on Russia: Effectiveness and Impacts
Effectiveness of the sanctions
Conclusions and recommendations
Share:

Content: However, those sanctions have undermined solidarity within the EU. The active lobbying of Nord Stream 2 by Germany, Austria, France, and others have allowed the Kremlin to expand its export capacity to the EU and circumvent the Baltic states, Poland, Slovakia, the Czech Republic, and Ukraine – giving Moscow a stronger hand in its Eastern European policy. Russia is also doing its best to create a split between the US and the EU (and within NATO) by generating the idea that Washington is deliberately fueling the crisis in Ukraine and dragging Europe into it, thereby damaging EU member states. Despite sanctions and certain restrictions on Russian oil and gas industries, Moscow still remains the main supplier of hydrocarbons to Europe and seeks to play this card accordingly. Moreover, Putin’s team and Russian propaganda work intensively on the formation of so-called lobbying of energy interests among European officials. Recent events associated with an active promotion of Nord Stream 2 and increasing capacity of the OPAL gas pipeline are bright examples of the success of Russian energy lobbying. Effectiveness of the sanctions
The effect of sanctions on the US economy has been extremely limited, largely due to the relatively small share of Russian trade within the wider US economy. GDP growth in the US has remained positive since the imposition of sanctions, although export and import trade volumes with Russia have decreased in the years following. Similarly, GDP growth has stayed positive within the EU, although trade with Russia composes a larger share of the total economy. The impact has consequently been greater on the EU, although its worst effects appear to have been mitigated.