Opinion | Russia’s economy is expected to outpace the economy of every G7 country next year. Why the West’s sanctions have been almost useless

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Opinion | Russia’s economy is expected to outpace the economy of every G7 country next year. Why the West’s sanctions have been almost useless
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Economic sanctions have a poor track record. And the past year has not changed that. For all our modernity, the conflict in Ukraine is a reminder that wars still end only with military force, diplomacy, and prayers. Opinion by David Olive

nears its first anniversary, the economic isolation of Russia by Canada and its partners in a Western alliance to halt the war have little to show for that effort.

Indeed, the Western alliance has proved that armed conflict cannot be brought to an end with economic weapons alone.than the economies of alliance partners Germany and the U.K. More than 1,000 international companies withdrew from Russia, taking their capital investment and technology with them. Russia’s central bank has minimized hardship for Russian civilians that might have weakened domestic support for the war on Ukraine.

True, Russia is selling its oil at discounted prices. But that oil continues to generate cash flow to fund Russia’s war in Ukraine, as do continued exports of Russian natural gas, nickel, aluminum, and titanium.

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