CNN: 'They're like our nerd warriors': How the Treasury Department is waging economic war on Russia
Washington (CNN)Three months into US-led sanctions designed to crush Russia's economy for its war in Ukraine, Russia has appeared surprisingly resilient.
The ruble has rebounded and is now worth more than before the invasion. The Kremlin's coffers are overflowing from record oil and gas sales. Even McDonald's has reopened in Russia, rebranded under a Siberian billionaire's ownership. Meanwhile, Russia's military continues to hammer away at Ukraine with a steady supply of tanks and artillery.
But inside the Treasury Department, teams of sanctions experts view that resilience as a mirage. In exclusive interviews with CNN, top Treasury Department officials say they remain confident the sanctions are working and that beneath the surface, a much more dire story is unfolding within Russia's economy, where they contend real and lasting damage is being inflicted.
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Update #1: Biden officials worry their Russia sanctions were so powerful they also brought economic suffering to the US, report says (Insider)
Update #2: Do sanctions against Russia work? (DW)
WNU Editor: This US led economic war is not working .... Russian rouble, stocks push higher (Reuters).
Here is an analysis explaining why the US Treasury Department and the EU are failing in achieving their objectives in their economic war against Russia .... We should’ve known sanctions on Russia wouldn’t work as intended (Daniel Larison, Responsible Statecraft).
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