In an era of unparalleled geopolitical tension, US sanctions against Russia stand out as one of the most extensive and punitive economic campaigns in modern history. These sanctions, intended to isolate Russia and pressure its economy into submission, have had significant consequences-many of which were unforeseen by the architects of the policies. While the US continues to wield its economic might against Moscow, there is a curious absence of international pressure to end or soften these sanctions. In fact, the sanctions have not crippled Russia’s economy as intended. Instead, they have driven the country toward a level of economic resilience and self-reliance that the West may find difficult to reverse. But more importantly, they have ushered in a new era in global trade that may well mark the decline of Western economic dominance.

Sanctions against Russia are not new. The West began imposing economic restrictions on Russia in 2014, following Russia’s annexation of Crimea and its involvement in the conflict in Eastern Ukraine. However, the current wave of sanctions-exacerbated by Russia’s invasion of Ukraine in 2022-has reached unprecedented levels. According to Russian President Vladimir Putin, there are now over 28,000 sanctions imposed against Russian individuals and entities, a number that far exceeds any similar action taken against any other nation. This has led to the creation of an “economic blockade,” designed to isolate Russia from the global financial system and restrict its access to critical goods and services.

Despite these formidable sanctions, Russia has managed to avoid economic collapse. Rather than the intended devastation, the sanctions have created an opportunity for Russia to shift its focus inward and seek out new alliances and markets in the East and South. Moscow’s ability to adapt has been largely underestimated by Western policymakers, who expected a much quicker collapse of the Russian economy. Instead, Russia has not only survived but found ways to thrive under the pressure.

In response to these relentless sanctions, Russia has embarked on a multi-pronged strategy to insulate itself from Western economic influence. Key measures have included the implementation of strict capital controls, expanded government spending, and an aggressive push toward import substitution. These policies have not only helped Russia maintain its........

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