Tough sanctions loom against Russia, effectiveness uncertain

By FATIMA HUSSEIN, JOE McDONALD and DAVID McHUGH
Associated Press

WASHINGTON (AP) — As the Biden administration prepares its response to Russia’s attack on Ukraine, U.S. Treasury Department officials and their counterparts in Europe are tasked with finding ways to make Russia’s economy pay a price. One key question is how to measure the success. With inflation already at record highs, a global pandemic that keeps businesses struggling and an energy shortage throughout Europe, the math on punishing one of the world’s biggest economies is complex. After Russian President Vladimir Putin announced the launch of military operations against Ukraine, President Joe Biden promised the U.S. and allies will announce “further consequences” against Russia for its “needless act of aggression.”