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It seems that sanctions are hurting people everywhere, except in Russia (aside from a few exceptions).

NicoJuicy 4y ago
Because western companies still paid wages. Lack of semiconductors takes a while to set in. I suspect that their tech will greatly decrease within 6 months. A lot of tech workers already fled Russia. Other than that, a lot of things were targeting the oliarchs. That changed by now.
- Arnt 4y ago
  There's much more than that. One of the parts of the sanctions that isn't mentioned much affects oil/gas tankers, and tries to prevent Russia from diverting its exports from Europe to anywhere else. In order to sell oil/gas to, say, Brazil instead of Europe, Russia now has to charter tankers that ① aren't banned from working for Russia and also ② whose insurance provider isn't (because tankers are usually required to carry insurance), ③ whose bank isn't (because tankers are usually financed via a loan), ④ whose supplies and maintenance provide is't, and…that's not the end of the list. AIUI Russia isn't diverting its exports, it's cutting production (which is very, very harmful to Russia in the longer term), so that leaves two possibilities: Either that sanction is working, or tanker owners are boycotting Russia on their own volition. (More generally, I'm disappointed by how many people write "sanctions are/arent't working because x", without arguing or even stating that some part of the sanctions was intended to achieve x. This article is only partly guilty, it's better than most IMO.)
  - neilwilson 4y ago
    Russia has no need to export to anybody who isn’t providing it with actual stuff or services. Russia has its own free floating currency and can fund all activity within Russia using that. For the most part it just swaps excess resources for Chinese output. The Chinese can send their own boats to pick up the exports if necessary. Probably the same with India. What the ineffectiveness of the sanctions is showing is that “export led growth” is a essentially a myth.
    - deleted 4y ago
      [deleted]
    - mensetmanusman 4y ago
      It’s a myth unless you need certain technology life improvements. Of course, countries that stay low tech do not need to interact with the outside world. See: North Korea.
      - wizofaus 4y ago
        Pretty sure North Korea's a long way from being self sufficient. It's offical government policy to be self sufficient in food production but just last year were suffering famine conditions in parts of the country.
      - neilwilson 4y ago
        I’d rather see The United Kingdom and the industrial revolution. Did that stay low tech despite there being nobody else to exchange technology with at the time? Or did it just invent them itself?
    - Arnt 4y ago
      Neither China nor India has the necessary fleet. Roughly 30% of the world's fleet would be necessary, and neither of those countries have that much (if you exclude ships financed/insured/serviced abroad). As to whether Russia needs to export — developing these oil/gas fields took a lot of effort. Clearly the Russians believed that there was benefit to doing it.
- sharikous 4y ago
  > Lack of semiconductors takes a while to set in. I suspect that their tech will greatly decrease within 6 months. I suspect so but in the longer term it may even be beneficial. If some technological business will still exist there they will need to establish their own silicon industry. And they have a pretty skilled labor force that could do that (if they don't flee en masse)
  - Nasrudith 4y ago
    Establishing themselves behind the curve massively after previously having semiconductor manufacturing and letting it rot away? They could have done that without sanctions in both senses if they weren't spending military budget mostly on personal loyalty.
sorokod 4y ago
If you read/watch Russian channels you will find that the sanctions have a significant effect.
mensetmanusman 4y ago
How it seems depends entirely on what news bubble you are in. That is, of course, unless you are living there.
achikin 4y ago
A lot of companies has shut their business in Russia, chains of supply are broken, commodities prices went up. The sanctions are hurting people in Russia but not the Russian government which runs the war.

Because western companies still paid wages. Lack of semiconductors takes a while to set in. I suspect that their tech will greatly decrease within 6 months. A lot of tech workers already fled Russia. Other than that, a lot of things were targeting the oliarchs. That changed by now.

Arnt 4y ago
There's much more than that. One of the parts of the sanctions that isn't mentioned much affects oil/gas tankers, and tries to prevent Russia from diverting its exports from Europe to anywhere else. In order to sell oil/gas to, say, Brazil instead of Europe, Russia now has to charter tankers that ① aren't banned from working for Russia and also ② whose insurance provider isn't (because tankers are usually required to carry insurance), ③ whose bank isn't (because tankers are usually financed via a loan), ④ whose supplies and maintenance provide is't, and…that's not the end of the list. AIUI Russia isn't diverting its exports, it's cutting production (which is very, very harmful to Russia in the longer term), so that leaves two possibilities: Either that sanction is working, or tanker owners are boycotting Russia on their own volition. (More generally, I'm disappointed by how many people write "sanctions are/arent't working because x", without arguing or even stating that some part of the sanctions was intended to achieve x. This article is only partly guilty, it's better than most IMO.)
- neilwilson 4y ago
  Russia has no need to export to anybody who isn’t providing it with actual stuff or services. Russia has its own free floating currency and can fund all activity within Russia using that. For the most part it just swaps excess resources for Chinese output. The Chinese can send their own boats to pick up the exports if necessary. Probably the same with India. What the ineffectiveness of the sanctions is showing is that “export led growth” is a essentially a myth.
  - deleted 4y ago
    [deleted]
  - mensetmanusman 4y ago
    It’s a myth unless you need certain technology life improvements. Of course, countries that stay low tech do not need to interact with the outside world. See: North Korea.
    - wizofaus 4y ago
      Pretty sure North Korea's a long way from being self sufficient. It's offical government policy to be self sufficient in food production but just last year were suffering famine conditions in parts of the country.
    - neilwilson 4y ago
      I’d rather see The United Kingdom and the industrial revolution. Did that stay low tech despite there being nobody else to exchange technology with at the time? Or did it just invent them itself?
  - Arnt 4y ago
    Neither China nor India has the necessary fleet. Roughly 30% of the world's fleet would be necessary, and neither of those countries have that much (if you exclude ships financed/insured/serviced abroad). As to whether Russia needs to export — developing these oil/gas fields took a lot of effort. Clearly the Russians believed that there was benefit to doing it.
sharikous 4y ago
> Lack of semiconductors takes a while to set in. I suspect that their tech will greatly decrease within 6 months. I suspect so but in the longer term it may even be beneficial. If some technological business will still exist there they will need to establish their own silicon industry. And they have a pretty skilled labor force that could do that (if they don't flee en masse)
- Nasrudith 4y ago
  Establishing themselves behind the curve massively after previously having semiconductor manufacturing and letting it rot away? They could have done that without sanctions in both senses if they weren't spending military budget mostly on personal loyalty.

sorokod 4y ago

If you read/watch Russian channels you will find that the sanctions have a significant effect.

mensetmanusman 4y ago

How it seems depends entirely on what news bubble you are in. That is, of course, unless you are living there.

achikin 4y ago

A lot of companies has shut their business in Russia, chains of supply are broken, commodities prices went up. The sanctions are hurting people in Russia but not the Russian government which runs the war.