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Russia Alternative Punishment Sanctions Given “UN Paralysis”: Raghuram Rajan

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Tough sanctions on Russia for “unwarranted attacks” on neighboring countries are an alternative form of punishment as the global governance system no longer works, Raghuram Rajan, former Governor of the Reserve Bank of India told NDTV. He added that the economic damage on Russia would be huge because it does not bargain on the scale of such sanctions, even on their central banks for example. “They don’t expect large-scale restrictions on everything, including spillover to restrictions on energy,” he said. Arguing that since Russia vetoed everything at the United Nations, he said that the sanctions were an attempt to maintain global order through new weapons because old weapons had become unusable.


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