MOSCOW, September 13 (RIA Novosti) - The European and American sanctions regime will have no effect on Russian policies in neighboring Ukraine as Russian businesses are capable of adjusting to them, Bryan Early, director of the Project on International Security, Commerce and Economic Statecraft at New York State University at Albany, told RIA Novosti Saturday.
“Since Russian businesses have been able to anticipate the new rounds of sanctions and, at least partially, adjust to the preceding rounds of economic sanctions, I do not think that the new sanctions will have a decisive effect,” said Early, the author of the book “Busted Sanctions: Explaining Why Economic Sanctions Fail.”
“Academic research has consistently found that the slow escalation of economic sanctions over time is less effective than imposing harsh, comprehensive sanctions all at once that can inflict shocks to their targets’ economies,” the professor added.
American and European leaders announced a new round of sanctions on Friday targeting Russian financial institutions as well as the energy sector. The announcement marked the third round of sanctions imposed on Russia. Many in Europe have been wary of severing critical economic ties with Russia, particularly in the energy sector, because of the economic impact it will have on fragile and recovering European economies.