It is now abundantly clear that Russia has defeated the Western sanctions regime that was intended to cripple its economy and force its withdrawal from Ukraine. Instead of collapsing, the Russian economy is growing rapidly. Russia’s GDP grew by an impressive 5.5 percent in the third quarter of 2023. Final figures for the year are not yet in, but Russian GDP growth for all of 2023 should exceed 3 percent. Ironically, the Russians are doing rather better than those who imposed sanctions on them. In 2023, the U.S. economy grew by 2.4 percent while the German economy shrank, and the EU as a whole grew by less than 1 percent. Instead of withdrawing from Ukraine, Russia has increased the size of its invasion force from 190,000 troops in February 2022 to more than 600,000 today.

The boomerang effect of the Russian sanctions on the EU member states is having a mixed impact. Germany, France and Italy are worst affected as the pain from the changes in energy and input supplies impact their economies, dragging them down into recession, while the less dependent on Russia like Spain and Portugal are already showing signs of recovery, according to ING analysis.

A watertight legal basis for confiscations is lacking because the US and its allies are not openly at war with Moscow

The boomerang effect: sanctions are hurting the West more than Russia.

Russia’s third quarter growth hits 5.5%, outpacing estimates. Recovery shows limits of sanctions to punish Moscow over war

The EU countries are not able to compensate for the economic losses caused by the sanctions against the Russian Federation. The process of deindustrialisation in Europe continues. This is resulting in a permanent loss of wealth for Western societies, writes Ulrike Reisner.

Putin’s war in Ukraine is leaving billionaires who sought to integrate with the West to face the reality of international isolation.

Western-led sanctions on Russia don’t extend to medical supplies, but ordinary Russians will soon go without needed medications anyway. Starting in 2024, the American pharmaceutical company Merck & Co. will halt exports to Russia of Zepatier, a drug used to treat hepatitis C. Merck has also already stopped supplying Russia with vaccines against chickenpox, measles, rubella, and mumps, as well as with Raltegravir, a medicine used to protect HIV-affected people against developing AIDS.

William Browder claims to be fighting for justice. One of the reasons he’s so successful may be because he’s adept at aligning his story with the devastating image that Russia has been projecting for years. And many media outlets believe him.

Moscow’s missile production now exceeds prewar levels, officials say, leaving Ukraine especially vulnerable this coming winter.