With sanctions beginning to bite, Russia is starting to play a new economic game. To alleviate the pain of Western restrictions on its financial and energy sectors, Russia is turning for help to non-Western partners. Last week alone, Russia and China signed over 40 agreements that provide Russian firms with lines of credit worth billions of dollars and establish strategic partnerships in the energy sector.
The United States, in turn, is looking to step up its own game. Policymakers are considering giving global companies a choice: stop providing long-term financing and energy assistance to major Russian companies or be kicked out of the U.S. financial system. Such measures resemble the sanctions the United States placed on Iran a couple of years ago. But Iran was a different problem. And treating Russia the same way would be a mistake.
More from CNAS
CommentaryAddressing Deepening Russia-China Relations
Russia-China cooperation increases the challenge that each country poses to the United States....
By Andrea Kendall-Taylor & Jeffrey Edmonds
The rise of digital technology initially ushered in a wave of optimism about the future of democracy. Today, however, a different reality has emerged as authoritarian regimes ...
By Andrea Kendall-Taylor
CommentaryRussia and China Playing Musical Chairs in Zero Gravity
American defense planners need to not overinflate the threat of Russian-Chinese cooperation, but still understand and plan for those areas where their combined efforts might l...
By Jeffrey Edmonds
CommentaryThe Resilience of Sino-Russian High-Tech Cooperation
While Russia and China are signing joint agreements to develop high-tech research centers and initiatives, the outlook is more complex beneath the surface....
By Samuel Bendett & Elsa B. Kania