Sanctions are imperfect, but they harm Russian economy - US expert Fried
Former US State Department Sanctions Coordinator Daniel Fried says that sanctions against the Soviet economy were also inconsistent and imperfect, but it did not withstand them
He said this in the Studio West with Antin Borkovskyi program on Espreso TV.
"Sanctions could be intensified. The sanctions will never work perfectly. There will always be evasion of sanctions. However, that doesn't mean sanctions don't work. It means that they are imperfect. Imperfect sanctions are reality, but they can hurt the Russian economy as they are doing. And we are to increase the sanctions. I've written an article recently which suggests how. Basically there are more financial sanctions," he said.
According to him, it is necessary to manage oil price restrictions even more effectively and to prosecute those who supply banned technologies to Russia.
"It is difficult. It is imperfect but we need to do this. Let's not forget the experience of the Soviet economy. The sanctions against the Soviet economy were inconsistent and flawed but the Soviet economy failed. It failed. We must not forget this lesson," the expert noted.
- On September 19, the US Treasury Department announced sanctions against a network of companies from Iran, China, Russia, and Turkey that facilitated the smuggling of components for the production of Iranian aircraft and drones.
- On September 22, Canada imposed sanctions on more than 60 Russian individuals and legal entities.