Economic warfare vs. Fortress Russia
JURE MAKOVEC/AFP via Getty Images
For the past several years, the Russian government has been building up its capability to withstand sanctions from the West. The roughly $640 billion of official reserves consist of foreign countries' government bonds, cash, and gold. The strategy is known as Fortress Russia and was intended to make the Russian economy sanction-proof.
This notion is being put to the test as the United States and its allies place heavy sanctions on the Russian economy for its invasion of Ukraine. Today, we analyze piece by piece just how effectively Russia can withstand economic isolation.
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