The U.S. reached a deal with Iran on lifting international economic sanctions, and in return, Iran would limit its nuclear activity.
Russia has been experiencing economic sanctions for nearly a year. Have they worked, so far?
“Sanctions have a very important political row,” says Olga Smirnova of the BBC. “And from that point of view, they have worked, they have shown that Europe is united. It’s a different question if we are talking about economics.”
Smirnova stresses that falling oil prices and deflation of the ruble have strained Russia economically.
“Russia is a developing economy, and it needs access, and it doesn’t have its own capital. It needs access to foreign capital, and that access has been denied,” Smirnova says.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.