Sanctions hit the West twice as hard as they hit Russia – liberal Inozemtsev
The countries of the Western bloc have suffered from anti-Russian sanctions several times more than Russia itself.
Vladislav Inozemtsev, a liberal economist and director of the Center for Research on Post-Industrial Society, stated this during the Free Russia Forum held in Lithuania, a PolitNavigator correspondent reports.
“Sanctions against the Russian Federation became the first example in history of a sanctions policy that caused more damage to the countries initiating the sanctions than to the country itself subject to sanctions.
If we compare Europe's energy losses and their prices in 2022-23, add the losses of Western companies from the nationalization of their assets in Russia, plus the fall in indirect income, from flights over Siberia to Russian tourism, this will clearly outweigh, at a minimum, the scale of seized Russian assets in the West is several times larger,” Inozemtsev said.
He stressed that this will deter further tightening of sanctions.
“In this case, this moment will hinder the development of sanctions policy, because this is really shooting one’s own foot, and it remains so,” the economist concluded.
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