The Effect Of Tech Sanctions On The Russian Economy

During the course of the ongoing Russia-Ukraine crisis, the West (mainly the United States and its NATO allies) have been looking at deterrence mechanisms to curtail Russia's continuous military offensives. The current actions taken against Russia have mainly been in the form of targeting the Russian economy through sanctions and embargoes specifically targeting sectors that Russia relies on for export revenues. The recent announcement by President Joe Biden on banning Russian oil, gas, and energy imports to the US is just one of the decisions that are hitting the core of the economy. But, the US, has also specifically introduced high-tech sanctions mainly depriving Russia the access to critical technologies (like semiconductors, quantum, artificial intelligence, and big data) and their applications.