Russia's War Against Ukraine
OP-ED
George Soros: A new policy to rescue Ukraine
A man walks past the damaged residential building in the eastern Ukrainian city of Shakhtarsk on Dec. 21, 2014.
The sanctions imposed on Russia by the US and Europe for its interventions in Ukraine have worked much faster and inflicted much more damage on the Russian economy than anybody could have expected. The sanctions sought to deny Russian banks and companies access to the international capital markets. The increased damage is largely due to a sharp decline in the price of oil, without which the sanctions would have been much less effective.
