Putin has set back his country by decadesBy Olivier Knox The Washington Post, March 17, 2022 |
By invading Ukraine, Russia has done severe economic damage to itself that could take years to heal — perhaps however long President Vladimir Putin rules the Kremlin. The global response to the bloody, three-week-old onslaught has not just closed Russia’s stock market and collapsed the ruble’s value, but set Moscow back 30 years, reversing decades of integration into the global economy since the U.S.S.R.’s fall. And if the 400 companies that have withdrawn from Russia, scaled back operations there, or suspended their activities (connoting temporariness) start thinking about a return, there are at least five big reasons that will prove difficult, barring global action from governments. |
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This obviously may feel like a premature discussion while Russian missiles and shells pour down every day on apartment buildings, schools and hospitals, and Ukraine begs for help. Even as Putin admits the sanctions’ biting impacton his economy, he hasn’t halted his war. But Tufts University Professor Dan Drezner recently looked at ways to turn the sanctions from a somewhat ad hoc means of punishing Moscow into an institutionalized regime of containment. Typically judicious word choice: Containment helped beat the Soviet Union. |
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