Four years after Russia's full-scale invasion of Ukraine, the Russian economy is showing clear signs of structural exhaustion. The contours of a genuine economic endgame are coming into view for Russia. This is the finding of a new Kiel Report published by the Kiel Institute for the World Economy and the Stockholm Institute of Transition Economics.
I never said that sanctions don’t work to hurt a country’s economy. That part is evident.
However, very few wars have been ended by sanctions alone. So in that sense, no, they do not work anywhere near as well as everyone thinks they do.
You would have a point if it was sanctions alone that Russia was facing.
It is fortunate in this case that Russia is also up against a well motivated Ukrainian army whose attacks have been increasing in sophistication as the war has progressed. Russia on the other hand has been on the back foot recently, they have appeared unable to adjust to Ukraine’s drone strikes on logistics behind the front lines and have had a net loss in square km gained the last 4 months in a row.