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Russia's been trying to make its economy and banks immune to sanctions for years : Planet Money The U.S. is imposing economic sanctions on Russia to punish it for invading Ukraine. But Russia has spent years trying to make its economy immune to sanctions. So, will these new sanctions be enough? | Subscribe to our weekly newsletter here.

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Putin's big bet: Sanction-proofing Russia

Putin's big bet: Sanction-proofing Russia

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People stand with placards at a demonstration staged in front of the Downing Street gates, in central London, on February 24, 2022 to protest against Russia's invasion of Ukraine. (Photo by JUSTIN TALLIS / AFP) (Photo by JUSTIN TALLIS/AFP via Getty Images)
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Justin Tallis/AFP via Getty Images
People stand with placards at a demonstration staged in front of the Downing Street gates, in central London, on February 24, 2022 to protest against Russia&#039;s invasion of Ukraine. (Photo by JUSTIN TALLIS / AFP) (Photo by JUSTIN TALLIS/AFP via Getty Images)
Justin Tallis/AFP via Getty Images

Russia invaded Ukraine this week. In retaliation, the U.S., E.U. and U.K. are imposing tough sanctions, targeting Russian elites close to president Vladimir Putin, the country's sovereign debt, and seven Russian banks.

But ever since Russia seized the Ukrainian peninsula of Crimea in 2014, Putin has been trying to make the country's economy and banks sanction-proof. Today, what Putin has been doing to prepare for sanctions, and will these new sanctions be enough?

More on the conflict in Ukraine and the sanctions against Russia:

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