A world in which Western sanctions are routinely expected is one in which punitive measures will become increasingly ineffective. In February 2022, a long lasting conflict ‘officially’ began between Russia and Ukraine. On paper, the odds were lopsided. Russia had the second most powerful military in the world, while Ukraine ranked between Vietnam and Thailand. Many analysts expected a short, brutal war and Russian annexation. What we got was a long, bloody war, with the sides much more evenly matched. It is not out of the realm of possibility that Ukraine will end up reclaiming control over not just the…
AnalysisAsiaEconomy / FinanceRussia
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