In 2022, sanctions formed a critical element of the West’s response to Russia’s full-scale invasion of Ukraine. Those sanctions led to a contraction of the Russian economy, cut off Putin’s cronies from their lavish lifestyles in the West, and degraded Russia’s ability to invest in critical advanced technologies, including in its defense industry. At the same time, the ramifications for Russia’s economy have not been as drastic as many observers expected, and Kremlin-linked companies have found ways to evade sanctions and prop up Moscow’s war efforts.

What are the true impacts of Western sanctions against Russia? How will sanctions impact the Russian economy over the coming months and years? What more can Western countries do to improve their enforcement and the efficacy of sanctions? Vladimir Milov, vice president of international advocacy for the Free Russia Foundation, joins the Atlantic Council and a panel of experts to discuss his new report on the real impact of Russian sanctions.


Ambassador Daniel Fried
Weiser Family Distinguished Fellow
Atlantic Council

Charles Lichfield
Deputy Director and C. Boyden Gray Senior Fellow, GeoEconomics Center
Atlantic Council

Vladimir Milov
Vice President, International Advocacy
Free Russia Foundation

Elina Ribakova
Deputy Chief Economist
Institute for International Finance

Leonid Volkov
Chief of Staff for Alexei Navalny;
Political Director
Alexei Navalny’s Team

Moderated by

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The Eurasia Center’s mission is to promote policies that strengthen stability, democratic values, and prosperity in Eurasia, from Eastern Europe in the West to the Caucasus, Russia, and Central Asia in the East.