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Geopolitics

How Sanctions Are Quietly Destroying Russia's Economy

The European Union has prepared the sixth package of sanctions against Russia, which includes restrictions on Russian oil imports, as well as disconnecting more Russian banks from the SWIFT bank circuit. The effectiveness of these measures are not always visible, but they are real ... and potentially fatal .. for the Russian economy.

​Photo of a man withdrawing Russian rubles

Withdrawing Russian rubles in Moscow

Oleksandr Detsyk

-Analysis-

KYIV — Are sanctions working? To answer that question, it makes sense to first ask which sanctions have been most effective so far?

Economic sanctions against Russia for its aggression toward Ukraine began to be imposed immediately after the 2014 occupation of Crimea and the outbreak of the war in Donbas, but those cannot be considered effective. In any case, they did not deter Moscow’s invasion in 2022.

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But the sanctions imposed by the U.S., the European Union and their allies since February 24 have already hit the aggressor's economy significantly. The blocking of Russia's foreign exchange assets abroad has become the most painful. According to various estimates, this has affected about half of its gold and foreign exchange reserves, worth around $300 billion.

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Ideas

Artificial Satellite Pollution, Perils For Biodiversity In Space And On Earth

Exploiting space resources and littering it with satellite and other anthropogenic objects is endangering the ecosystem of space, which also damages the earth and its creatures below.

Image of the small satellite NanoRacks-Remove Debris satellite deployed into space by the ISS

Thomas Lewton

Outer space isn’t what most people would think of as an ecosystem. Its barren and frigid void isn’t exactly akin to the verdant canopies of a rainforest or to the iridescent shoals that swim among coral cities. But if we are to become better stewards of the increasingly frenzied band of orbital space above our atmosphere, a shift to thinking of it as an ecosystem — as part of an interconnected system of living things interacting with their physical environment — may be just what we need.

Last month, in the journal Nature Astronomy, a collective of 11 astrophysicists and space scientists proposed we do just that, citing the proliferation of anthropogenic space objects. Thousands of satellites currently orbit the Earth, with commercial internet providers such as SpaceX’s Starlink launching new ones at a dizzying pace. Based on proposals for projects in the future, the authors note, the number could reach more than a hundred thousand within the decade. Artificial satellites, long a vital part of the space ecosystem, have arguably become an invasive species.

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Central to the tragic absurdity of this war is the question of language. Vladimir Putin has repeated that protecting ethnic Russians and the Russian-speaking populations of Ukraine was a driving motivation for his invasion.

Yet one month on, a quick look at the map shows that many of the worst-hit cities are those where Russian is the predominant language: Kharkiv, Odesa, Kherson.

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