Oct 17, 2024

Can Sanctions help us Order the Disorder?

Stephanie Baker

Hosted by Jason Pack

Summary

Following Russia’s full-scale invasion of Ukraine in 2022, the West initiated the most comprehensive economic war in human history. The US, EU, and UK announced a range of well-coordinated sanctions against Russia which included export restrictions, freezing assets, excluding the Russian Central Bank from SWIFT, and banning flights. It was an example of transcending the Enduring Disorder with the main Western powers working together seamlessly.

But seen in hindsight were these effective? Did they degrade Russia’s fighting capacity? Does kicking a state out of the globalized economy actually hit Disordering states, like Putin’s Russia or Iran, where it hurts? Do they help avoid future aggression? Or do they facilitate the rise of a ‘Disorderer’s Club’ where sanctioned autocracies merely trade with each other and form common cause against the West?

In this’ investigative’ episode of Disorder, Jason Pack is joined by Bloomberg journalist, Stephanie Baker, author of Punishing Putin: Inside the Global Economic War to Bring Down Russia. The pair explore different theories of whether economic integration prevents wars, the effectiveness of sanctions, the fear of blowback, the role of oligarchs in Putin's regime, and the impact of the novel $60 a barrel ‘oil price cap’ on Russia's economy. Plus: as they Order the Disorder, they look at whether methods like the oil price cap could be used to deter Iran, the need for a coordinated international response (which includes players like the UAE), and how targeting Putin’s access to high-end semi-conductors could help undermine his authoritarian power.