Aaron Klein
With today’s update of the Brookings Sanctions Tracker, it is more clear than ever that Russia’s invasion of Ukraine has triggered a global response. Many of the world’s major democratic nations are engaging in economic warfare against Russia by implementing “the most comprehensive set of multilateral economic sanctions ever applied to a major global economy.”
America is helping lead the charge, exercising its unique power of controlling access to the dollar, effectively the world’s reserve currency. Understanding how the war is progressing is complicated enough given the asymmetric battlefields between physical and economic war.[1] It is further complicated as the conflict unfolds across three time horizons: the present, future, and the current expectations of the future. Understanding how these different time horizons affect dimensions of the conflict is critical to deciphering how the war is going and what lies ahead.
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