Former IMF chief economist predicts "incredibly poverty" in Russia due to sanctions
Russia may face "incredibly poverty," but the West should consider extending sanctions even if Ukraine wins
Kenneth Rogoff, a former chief economist of the International Monetary Fund, said this at the World Economic Forum.
"Look at Iran, look at North Korea, look at Venezuela, look at Cuba, that’s where Russia’s headed," he emphasized.
Rogoff also added that the aggressor country could become a "giant Iran" in the future as a result of international sanctions. Russia has lost some of its revenues, so production and other sectors of the economy are slowing down.
He stated international sanctions can lead to regime change in Russia, and the restrictions themselves have a cumulative effect. Accordingly, the West should consider extending sanctions even if Ukraine wins the war.
"If you keep up sanctions for a long time, and make them stronger and stronger, they do work," he added.