Sanctions against Russia likely to fail, says renowned economist

US sanctions failed to achieve their aims against the likes of Venezuela, Iran and North Korea, says Columbia university professor Jeffrey Sachs

Jeffrey Sachs, University Professor at Columbia University: ‘The sanctions are unlikely to deter Russia, prevent its military occupation of Ukraine, or replace the Putin regime’

Jeffrey Sachs, the globally renowned economist and former adviser to three UN secretaries general, has warned that economic sanctions imposed on Russia in response to its invasion of Ukraine are likely to fail in curtailing the war and risk further escalating the crisis.

Speaking exclusively to the Business Post, Sachs said the type of severe sanctions imposed by the US, the European Union and other Western nations had been repeatedly proven not to work and ...