| Summary/Abstract |
THE POLITICAL CRISIS in Ukraine that erupted in March 2014 sparked tensions between Russia and its Western partners, with the United States and then the European Union imposing sanctions on Russia that year. The sanctions mainly targeted key Russian banks and energy companies, which were denied access to long-term loans. Russia's defense industry was also sanctioned: the West in effect embargoed exports to Russia of armaments, dual-use goods and materials used in manufacturing weapons, and U.S. and European companies and individuals were prohibited from doing business with major Russian defense companies.
|