From Lawfare: What Sanctions Has the World Put on Russia?

I'll add links to the literature about whether sanctions actually work. 

- Click here for the article.

Over the past week, the United States and its allies have responded to Russia’s invasion of Ukraine with some unprecedented actions of their own. But instead of engaging militarily, they have struck back at Russia’s economy.

The sanctions have escalated over the course of the week. What began on Feb. 21 as a purported set of targeted measures aimed at isolating the two breakaway Ukrainian regions of Donetsk and Luhansk has rapidly evolved into the most comprehensive set of multilateral economic sanctions ever applied to a major global economy. By implementing such dramatic steps so quickly, the Biden administration and its international partners no doubt hoped to impose costs that might force Russia to reconsider before its military campaign in Ukraine was too far long.

So far these efforts have been unsuccessful, even as the sanctions have ratcheted up in scope and severity. Russian President Vladimir Putin has shown no signs of reversing course. But as the consequences for the Russian people rapidly grow more severe, the hope from the U.S. and its allies appears to be that his calculus—or that of the people surrounding him—may yet change.

This piece provides an overview of the sanctions measures that the United States and its allies have imposed on Russia since the outbreak of the Ukraine crisis. Part I begins with an overview of U.S. sanctions measures. Part II discusses the steps that others in the international community have taken thus far. And Part III identifies what questions remain and where there may be further developments.