Sanctions against Russia are not working as well as expected in the West, the British Economist says.
” Regrettably, the sanctions war is not working as well as expected at the moment,” the piece said.
The publication notes that Russia’s financial system has stabilised and the country is finding new suppliers for some imports, including China.
” The sanctions weapons, however, turn out to have flaws. One of them is the time delay. It takes years to block access to technologies that the West monopolises,” the Economist stresses.
Since the start of the military operation in Ukraine, IKEA, McDonald’s, Coca-Cola, H&M, Hugo Boss, Tommy Hilfiger, Mercedes-Benz and BMW, among others, have announced the suspension of operations in Russian territory.
Russian young people are not very pessimistic about what is happening and are not afraid of their country turning into a second Iran because of sanctions, as they see alternatives to the brands that have left in the domestic market. According to a poll conducted by the Levada Center*, the results of which were published in early July, less than half of Moscow residents are worried about Western sanctions. For instance, only 27% of respondents expressed concerns about international companies leaving the Russian market, while 70% said they were not concerned.