Opinion by David Ignatius: Putin’s long game in Ukraine may not play out as he predicts
: “We may need around a decade to return [the] economy to the 2021 levels.” He told journalists recently that cargo shipments to Russia had fallen sixfold because of Western sanctions.“We’re playing the long game, too,” Commerce Secretary Gina Raimondo told me on Thursday. The United States assembled a coalition of three dozen countries to support the sanctions, she noted, with this satisfying result: Exports of semiconductors to Russia have fallen 74 percent compared with a year ago.
Because of high energy prices, Russia still has cash. But it’s growing harder for Moscow to buy what it needs because of Western export controls. A senior Commerce Department official told me that U.S. exports to Russia of proscribed products — basically anything that’s needed for the Russian military, technology companies or the energy sector — have declined 95.9 percent by value compared to a year ago.last month by the Peterson Institute for International Economics shows significant impact.
Foreign support for Russian technology and communications companies is gradually evaporating. Ericsson and Nokia
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