Raft of new US sanctions leave Putin's oil and gas revenue unscathed

The US sanctioned hundreds of Russian officials, lawmakers, family members and businesses in what Treasury Secretary Yellen called a "sweeping action," but, the measures won't have much impact in real

The US sanctioned hundreds of Russian officials, lawmakers, family members and businesses Friday in what Treasury Secretary Janet Yellen called a “sweeping action,” but in reality the measures will have little practical effect on President Vladimir Putin’s ability to sustain his country’s economy with oil and gas revenue.

That raises fundamental questions about the effectiveness of sanctions, despite how big it looks on paper for the Biden administration to go after Russia’s central banker, Elvira Nabiullina, and Alexander Novak, the deputy prime minister and a key figure in Russia’s energy sector. A raft of sanctions so far haven’t materially affected