Weighing Russia Sanctions Success Tough in Ukraine Conflict
WASHINGTON (AP) — As the Biden administration prepares its response to Russia’s attack on Ukraine, the Treasury Department is tasked with finding ways to choke off parts of Russia’s economic development.
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One key question for the administration is how to measure the success.
With inflation already at record highs, a global pandemic that keeps businesses struggling to reopen and a energy shortage throughout Europe, the mathematics on punishing one of the world’s biggest economies are complex.
After Putin announced the launch of military operations against Ukraine, President Joe Biden promised the U.S. and allies will announce “further consequences” against Russia for its “needless act of aggression against Ukraine.”