by Ryan McMaken
Mises.org
Some US policymakers and pundits are declaring that Russia—and its population—are cut off from the rest of the world. For example, political scientist Nina Khrushcheva has declared “Russia is hated by the rest of the world,” and that “Russia is the global enemy.” The New York Times concludes Russia is now “an economic pariah” and that a “new iron curtain” is falling.
There is no doubt that the sanctions imposed by wealthy Western nations will negatively impact the Russian regime, the Russian economy, and the Russian people. Ordinary Russians, who currently enjoy a GDP per capita that is only a fraction of the size of that in many Western countries, will suffer greatly.
But when it comes to the degree of Russia’s isolation, those gloating about Russia being “cut off” are overstating the case. In fact, many of the world’s largest countries have shown a reluctance to participate in the US’s sanctions schemes, and have instead embraced a far more measured approach.