Written by Thorbjorn Waagstein
The short answer is yes, very much so. And much more than it will hurt the EU or the US. Post-Soviet Russia is mainly a producer and exporter of oil, gas and raw materials. Just as Canada, Australia, Brazil, Chile and Venezuela. It has gone through a de-industrialisation after the dissolution of the Soviet Union and is now heavily dependent on imports of almost everything. It is the world sixth biggest economy, but it is too small to survive isolated. So sanctions will hurt a lot. But they may also have unintended consequences. Some of them could actually be quite…