Why Russia's Economy Refused to Collapse Under Western Sanctions
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Why Russia's Economy Refused to Collapse Under Western Sanctions
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In early 2022, experts confidently predicted that sweeping Western sanctions would crush Russia’s economy within months. Years later, the economy is still functioning, shops are stocked, salaries are paid, and the ruble has stabilized.
In this episode, we explore the surprising factors behind Russia’s resilience: massive natural resources redirected to Asia, creative “parallel trade” supply chains, swift central bank actions, defense spending as an economic engine, import substitution, and the role of non-Western countries that kept trading. We also discuss the human costs, long-term structural weaknesses, and key lessons for the world about sanctions, energy security, and building economic self-reliance.
This is a story of adaptation, hidden strengths, and the limits of economic pressure in today’s multipolar world.