How Europe can hurt Russia’s economy
Even if America lifts sanctions, the old continent has its own weapons
VLADIMIR PUTIN is getting ready for an early Christmas. In the hope of a swift normalisation of relations with America, the Kremlin has been asking Russian firms which sanctions they would like Uncle Sam to lift first. America seems keen: last week Steve Witkoff, a White House envoy, said relief could come after a ceasefire is agreed in Ukraine. On March 25th Russia agreed to ensure safe passage in the Black Sea—if the West lifts sanctions on firms supposedly serving its agricultural industry (including a bank that has also helped finance Russian oil exports).
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This article appeared in the Finance & economics section of the print edition under the headline “Spoiler power”
Finance & economics
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From the March 29th 2025 edition
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