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Global Sanctions Will Push Back Russian Economy Gains by 20 years, Blinken Says

April 27, 2022

Secretary of State Antony Blinken said that he believes Russians are feeling the effect of multiple rounds of coordinated global sanctions for the Kremlin’s war in Ukraine.

“I think what we’re seeing is that people increasingly in Russia are feeling the effects of the disastrous decision by Putin to attack Ukraine,” Blinken said during testimony before the Senate Committee on Foreign Relations.

“For example, upwards of 600 companies have left Russia, including many of the major consumer brands that we all know and are familiar with,” he said, adding, “They can’t buy the things they’ve been used to buying for the last almost 30 years.”

The nation’s top diplomat said that the gains of the last 20 years are being erased and Moscow’s ability to modernize key sectors of its economy is slowing. Despite all of that, Blinken said that he believes Russian President Vladimir Putin still holds large support from his citizens, largely due to disinformation campaigns.

“For now, I think what we’re seeing is Russian people to the extent that they’re informed continue to support for the most part President Putin,” Blinken added.

In the weeks since Russia’s invasion of its ex-Soviet neighbor, Washington and its allies have imposed rounds of coordinated sanctions vaulting Russia past Iran and North Korea as the world’s most-sanctioned country.

























SOURCE: CNBC
IMAGE CREDIT: PIXABAY