Stopping the war demands a renewed commitment to economic isolation
Bloomberg published an editorial emphasizing that Russiaʼs default will not end the war in Ukraine. Editors write that Russia has consistently reduced the share of its debt in dollars, and therefore the default for Russia will be a blow to Putinʼs authority rather than to Russiaʼs economy.
“Keeping up this pressure on President Vladimir Putin’s regime is justified — but it’s no game-changer. Russia’s main economic vulnerability remains its exports of oil and gas. That’s where the US and its allies need to keep their focus,” said an editorial.