The US and allies imposed economic sanctions on Russia, isolating the country from the global economy.

In response to Russia's escalation of aggression against Ukraine, the U.S. and its allies imposed unprecedented economic sanctions.

Esfandyar Batmanghelidj, CEO of Bourse & Bazaar, an economic think tank, stated that the coordination seen in the multilateral sanctions program against Russia is rare. He also highlighted the speed at which the sanctions were applied, moving from targeted measures to broad financial sanctions, which is unprecedented.

As the historical example of Iran demonstrates, sanctions can have unintended consequences. With Russia now being the most sanctioned country in the world, how will everyday Russian citizens be affected as their country becomes increasingly isolated from the world's financial and economic systems? Will Russia's relationship with Western adversaries such as China and Iran become closer as a result?

Discover the economic actions taken by the U.S. and its allies in the ongoing economic cold war, as outlined in the video above.