The West is tightening the screws on Russia. This week, the EU discussed blocking big, state-owned Russian banks from European capital markets, while goods that could be put to military as well as civilian use, such as computers or machinery, may be subject to an export ban.
The latest measures also restrict high-tech exports to the Russian energy industry. So who, beyond Russia, will be most affected by these restrictions and possible retaliation?
The EU has “drastically more economic clout”, as Matthew Yglesias notes on Vox.com. It is a $17trn economy; Russia’s annual national income is $2trn. And [...]