“We all see what outcasts Putin and Russia become. So the sanctions have already had a tremendous effect. But there also could be more,” said Wendy Sherman, the United States Deputy Secretary of State, in an interview with RBK-Ukraine. According to her, not the whole range of sanctions has been used against the aggressor. “Some measures are remaining. We are discussing them. But the sanctions have already had a tremendous effect,” Sherman said. “Ruble has fallen and is trading at the lowest level ever. The stock market is still closed due to the fears of capital flight. Central Bank has more than doubled its key interest rate; it is now highest in the last 20 years. Russian authorities are forcing exporters to sell no less than 80% of the foreign currency earnings to support the rubble. S&P downgraded Russia’s credit rating to “garbage.” “Many American companies are leaving Russia, although the work was quite lucrative there,” she added. According to Sherman, USA aid to Ukraine is not limited to sanctions. “...providing aid to Ukraine in the defense sector is also critical. Over the past year, we have provided $1 billion in such assistance to Ukraine, including $350 million, which is additional security assistance announced on February 26 to counter any other threats that Ukraine is currently facing. This is in addition to ongoing supplies from the aid package announced by President Biden in December and the transfer of US military equipment. As a result, $1 billion was spent on training and equipment last year as part of a larger $3 billion security package since 2014.”As reported the day before, Apple stopped selling iPhones and other products in Russia after they invaded Ukraine. Besides, according to Bloomberg, Russia became a country unsuitable for investments.
"Putin and Russia are becoming outcasts," United States Deputy Secretary of State
The official believes that sanctions have not yet taken full effect.
