Defeating Putin: the development, implementation and impact of economic sanctions on Russia
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- asked about imposing economic sanctions on Chinese companies if they help Russia to evade the worst of the sanctions, Tony Danker, Director-General at the Confederation of British Industry replied: “I think that is a political judgment, but I think the one thing that we have learned from this discussion is that there is no such thing as cost-free economic warfare. I would ask the policy makers to think thoughtfully about some of these responses.”[1]
- We note the caution expressed by witnesses about the impact of possible secondary sanctions. This is largely a matter for the Foreign, Commonwealth and Development Office, which will need to take into account the economic cost to the UK, but also the extent to which Russia circumvents Western sanctions through non-sanctioned Russian reserves and her trade with other countries.
