When Russia illegally annexed Crimea and armed separatists in eastern Ukraine, the United States and the European Union jointly condemned it. Together they introduced sanctions on Russia in July 2014 that limited access to finance for key companies in Russia’s energy, defense, and financial sectors; froze assets and banned travel for officials directly involved in the aggression; and restricted operations in Crimea and Sevastopol. The sanctions have substantially limited the Kremlin’s ability to fund military activities and further escalate the conflict in Ukraine; however, they have not succeeded in reversing the Kremlin’s stance.The effectiveness of the sanctions rests on the …read more
Source: Atlantic Council