Why Russia’s economy is more resilient than you might think

Since Russia’s unprovoked invasion of Ukraine, the United States and Europe have deployed tools of economic warfare with the explicit goal of crippling the Russian economy and rendering the Kremlin unable to wage its war of aggression. The alacrity and scale of the Western response—which has included freezing Russia’s foreign-currency reserves, cutting off many Russian banks from the SWIFT payment system, and coordinating export controls—shook the foundations of the Russian economy.