The article shows Russia's currency sliding in value. It dipped sharply following the annexation of Crimea, began a recovery, and then dipped sharply with the pandemic. So yes, the sanctions absolutely hurt their economy.

If anything, the sanctions forced Russia to start developing its domestic industry making its economy far more robust than it was previously.

This is true, the sanctions did have that effect, at least regarding making it resilient to sanctions. This is an effect we've seen in other economies under a heavy sanctions regime (Cuba, Iran) where they've developed a more internally resilient economy at the cost of overall efficiency. All that said, there are plenty of levers that the West has left to pull. If Russian oligarchs start having their London real estate confiscated, you can bet words will be had with President Putin.

[–] yogthos@lemmy.ml 1 points 2 years ago

The article shows Russia’s currency sliding in value. It dipped sharply following the annexation of Crimea, began a recovery, and then dipped sharply with the pandemic. So yes, the sanctions absolutely hurt their economy.

Wait till you find out what happened to the rest of the economies in the world after the pandemic. Sanctions created a temporary inconvenience for Russia, but the long term effect is clearly positive since re-industrialization and self reliance will serve Russia much better going forward.

l that said, there are plenty of levers that the West has left to pull. If Russian oligarchs start having their London real estate confiscated, you can bet words will be had with President Putin.

You're once again showing your lack of understanding of the subject you're discussing. London confiscating the wealth of Russian oligarchs directly helps Putin since it forces the oligarchs to keep wealth in Russia where it's subject to Russian laws. What the west would be doing is helping Russia ensure that the wealth isn't being siphoned out.