Effects of US sanctions against Russia would show soon – Ex-US State Secretary Condoleezza Rice

Sacramento: Russian President Vladimir Putin has not gained much from the conflict in Ukraine. Yet the time is on their side for now. But in the future, the sanctions imposed by the United States will have long-term effects on the Russian economy. Also, the impact of these US sanctions on the dollar’s central role in international financial markets will also become clear over time. Former US Secretary of State Condoleezza Rice has said that nothing can be said about this at present.

Former US Secretary of State Rice was speaking at the program of Stanford Institution of Economic Policy Research-SIEPR. Russia appears to be gaining military ground in the Ukraine conflict. At the same time, it is claimed that the economic sanctions imposed by the United States on Russia have not had any special effects on Russia. On the contrary, Russia’s economy has become stronger and the efforts of the West to target Russia’s fuel exports seem to have backfired on them. The United States and European countries had claimed that Russian President Vladimir Putin, who waged conflict in Ukraine, would soon become unpopular in Russia. But a year after the conflict in Ukraine, President Putin’s position in Russia seems to be intact.

Due to this, US officials have admitted that the United States and NATO’s strategy of using Ukraine to push Russia have failed. However, while speaking at the ‘SIEPR’ program, Condoleezza Rice presented a very different position in this regard. The effects of the sanctions imposed by the United States on the Russian economy are still not visible. But Rice indicated that this would not only affect the Russian economy in the future. Additionally, in the international financial market, the impact of these sanctions imposed by the United States on the dollar will be seen over time, Rice claimed.

While making these claims, Russian President Vladimir Putin has had little to do with waging battle in Ukraine, Rice said. On the contrary, Putin has started a conflict in Ukraine by building false fences. After some time, the consequences of this will come to light, and the conclusion of the former US Secretary of State has been recorded.

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