The politics and economics of sanctions against Russia

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Vladimir Putin, it is clear, has a particularly old fashioned view of power: it can always be distilled into something resembling an arm wrestle involving gunboats, ununiformed military specialists, and the odd tank on the odd street corner. The EU, it is clear, is not in the same game. How then, can it have a foreign policy impact when dealing with those who talk loudly and feel free to use the big stick they routinely brandish?

One answer is of course sanctions. They are the frontline response of the EU to the Kremlin over events in Crimea. But they are also controversial: do they work and - if so - how can they be crafted to achieve the best outcome? ECFR's Wider Europe team held a seminar to discuss these and other related issues. The two main speakers were Mark Galeotti of New York University and Timothy Ash of Standard Bank. I packaged up their main thoughts into two clear and instructive podcasts, with Mark talking about the politics of sanctions, and Timothy examining the economic impact. Here they are:

1. Mark Galeotti on the politics of sanctions

2. Timothy Ash on the economics of sanctions

For more from our Wider Europe team on all aspects of the crisis in Ukraine, including Andrew Wilson's recent paper "Supporting the Ukrainian Revolution", go to www.ecfr.eu/wider/ukraine

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