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How Economic Sanctions Shaped Today’s Global Powers

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A conversation with Nicholas Mulder on the evolution and history of sanctions, his new book The Economic Weapon , and the role sanctions play after Russia’s invasion of Ukraine.

A queue outside a branch of Russian state-owned bank Sberbank to withdraw their savings and close their accounts in Prague before Sberbank will close all its branches in the Czech Republic later in the day due to economic sanctions, 2022. (Photo by Michal Cizek / AFP) (Photo by MICHAL CIZEK/AFP via Getty Images) Subscribe to The Nation

Subscribe now for as little as $2 a month! The week after Vladimir Putin decided to send troops into Ukraine, Western newspapers were filled with analysis about the economic sanctions that might be imposed on Russia. After a few days, the sheer number and severity of those sanctions surpassed the expectations of almost every previous analysis—and rightly so, because the speed in implementing them and their scale and implications had little precedent when it came to an economy the size of Russia’s. Despite this surprise, however, new questions arose about the consequences that this new set of sanctions could have, both for the war itself and at the level of the global […]

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