Thread by @Makeiev

The #SanctionCoalition of more than 40 countries has been consistent with using sanctions as a smart diplomatic weapon against Russia and in support of Ukraine. Here is a longer Twitter thread debunking 11 major myths around sanctions.
1/15

Myth1: Sanctions are not effective.

Here you have some stats.

By the end of 2022 Russian GDP will decrease by 10%, the unemployment rate will increase to 9.3% - by 3.8 million people. And the real income of citizens is expected to decrease by 6.8%.
2/15

Russian imports have largely collapsed, and the country faces stark challenges securing crucial components, parts, and technology from hesitant trade partners. this is leading to widespread supply shortages within its domestic economy.

#SanctionsWork
3/15

Myth2: Sanctions hurt the Western world more than Russia

Compare it yourself: Russian GDP will decrease by 10%, the eurozone will grow by 2.6%, the UK by 3.75%, and the US by 2.3%.

But most importantly, by sanctioning Russia, the West invests in its own security!

4/15

Myth3: Sanctions hurt Western industry and farmers

Western countries have already started reducing their dependence on Russian resources.

Economic losses now will be much cheaper than losses incurred from further Russian aggression against the West.

5/15

Myth4: Because of sanctions, Russia cut gas supplies

Russian gas is not sanctioned (yet). Russia uses energy as a weapon: as early as the second half of 2021, it began to reduce gas supplies to the EU. The EU has managed to accumulate record volumes of gas in the storages

6/15

Myth5: Sanctions led to prices skyrocketing

Global inflation resulted from the coronavirus and lockdowns, during which the central banks of many countries issued trillions of dollars.

Energy prices began to rise rapidly in the 2nd half of 2021, before the 2022 sanctions

7/15

Myth6: Personal sanctions did not influence Putin's circle, oligarchs, or civil servants

Putin's inner circle is being deprived of real estate, bank accounts, other assets abroad. Oligarchs close to Putin are deprived of markets and financial tools in Western countries.
8/15

There is growing dissatisfaction among the oligarchs with the Kremlin's policies.
But the west needs to keep increasing the pressure, especially among the top 50 oligarchs who @Billbrowder has estimated hold up to $200 Billion of Putin's personal wealth in trust.

9/15

Myth7: We need not tighten sanctions

Sanctions against Russia are an investment in the security of the Western world.

The technological and financial isolation of Russia will significantly reduce its capabilities to threaten the Western and destabilize Europe
10/15

There are many opportunities for further tightening sanctions against Russia, including financial, energy, and individual restrictions. Follow the @sanctionsgroup and learn about its recommendations on further targeted measures
fsi.stanford.edu/working-group-…

11/15

Myth8: We cannot refuse to trade with Russia

Hundreds of foreign companies have left the Russian market. There is already a sharp decline in trade with Russia, and this trend will continue.

12/15

Myth9: Instead of sanctions and weapons, we need to freeze the conflict

If the conflict is frozen, a new war will begin in a few years as soon as Russia has rebuilt its forces which have been severely degraded by Ukraine making use of western weapons since 24 February

13/15

Ukraine has learned this through bitter experiences. Attempts to freeze the conflict in 2014-2015 were unsuccessful. Loosening sanctions would leave the Kremlin with significant opportunities to produce more weapons with which to attack Ukraine as and when it suits them.

14/15

Myth10: The West has exhausted the instruments of sanctions pressure

A lot has been done, but there is much more that can be done and is being done - every day, the sanctions noose around Russia’s neck is drawn a little tighter.

15/15

END