Introduction

In this chapter, Borozna and Kochtcheeva demonstrate that the sanctions imposed on Russia following the annexation of Crimea in 2014 and the conflict in Ukraine in 2022 stand out due to their rapid implementation and extensive coverage, targeting various aspects of Russia’s economy and political establishment. What makes them unique is not only their swiftness and scope but also that for the first time in history, the most comprehensive sanctions were imposed on the largest country in the world, a permanent seat on the UN Security Council, and the world’s largest nuclear arsenal. The West pursued multiple goals in the imposition of sanctions on Russia. The leading goals were to change the country’s behavior, isolate it from the international economy and hinder Russia’s ability to obtain the capital and materials; contain and punish the country by significantly weakening Russia’s economy, depriving it of crucial technologies and markets, and curbing its ability to wage war. This unprecedented use of sanctions against a major global player reflects a shift in international politics and has far-reaching economic and geopolitical implications, impacting global diplomacy and energy markets.