Sanctions against Russia are quite ‘successful’. Russia is less likely to have a recession.

European sanctions on Russian oil are extremely effective. 🥴

Ht @Jkylebass pic.twitter.com/nEXBpggMwy

— Wall Street Mav (@WallStreetMav) April 29, 2023

Thanks to the sanctions, Russia is less likely to have a recession pic.twitter.com/3WTTJtBWFT

— Russian Market (@runews) April 30, 2023

2. Root problem is an infatuation with financial sanctions. These can be effective when used on current account deficit countries – Turkey in 2018 is an example – but they don't work on current account surplus countries. This is a key point that cannot be emphasized enough. pic.twitter.com/c2JIdKAZFZ

— Robin Brooks (@robin_j_brooks) April 29, 2023

China's exports since Russia invaded Ukraine
1. Belarus (blue): +90%
2. Georgia (orange): +64%
3. Uzbekistan (red): +40%
4. Kazakhstan (pink): +31%
5. Azerbaijan (black): +10%
6. Ukraine (purple): -81%

Note: hard to imagine Belarus' import demand booming with a war in Ukraine… pic.twitter.com/hd51LGWQR3

— Robin Brooks (@robin_j_brooks) April 29, 2023