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Negotiations in Riyadh, agreements on navigation in the Black Sea, and now the White House's attempts to achieve a truce by April 20th - all these steps create the illusion of diplomatic progress. But is this truly a step towards peace or another political manoeuvre?

Russia, despite its promises, continues to attack Ukraine’s energy infrastructure. The West, meanwhile, is considering easing sanctions against the Russian agricultural sector, even though Moscow has made no concessions. All this is happening against the backdrop of the Trump administration’s attempts to use the war for its own geopolitical game.

Does the White House have a clear strategy, or is it merely an attempt to secure a «success» before Easter? Is diplomacy turning into a tool for weakening sanctions that ultimately benefits the Kremlin? This is the subject of an exclusive interview with John Bolton - American Republican politician, diplomat and former National Security Advisor to Donald Trump (2018-2019).

The negotiation process

‍Maryna Stepanenko: Last week, we saw another round of negotiations in Riyadh. How would you assess their progress?

‍John Bolton: Certain agreements were reached regarding a ceasefire in the Black Sea in terms of the conditions under which commercial vessels may freely cross the Black Sea without being attacked. Commercial vessels must not be used for military purposes. And I believe we have generally returned to what was being discussed with Turkey back in 2022.

This may be progress, but I believe Russia is as interested in this as Ukraine, so that they can transport part of their agricultural products. I do not believe this necessarily guarantees progress in ceasing hostilities on land or towards a more comprehensive ceasefire, let alone a final settlement.

We witnessed Russia breaking its promise to stop strikes on Ukrainian energy infrastructure. Moreover, the attacks have not only continued but intensified. Now we have agreements aimed at ensuring safe navigation in the Black Sea and preventing the use of commercial vessels for military purposes. How can the United States guarantee that Russia will honour any agreements, given its history of violating international commitments?

I do not believe any guarantees exist. That is precisely why President Zelenskyy is so adamant about security guarantees - he understands Russia’s track record all too well.

An agreement can be reached on almost anything, but a Russian signature will not prevent a third invasion if Moscow decides to launch it

Many of these errors were made in 2014, ultimately leading to Russia’s second invasion. But the damage has been done, and the idea that the simple signing of a document ensures lasting peace and stability is fundamentally flawed - especially if the agreement leaves certain territories in Russian hands, making it inherently inadequate.

The United States announced its intention to support the resumption of Russian exports of agricultural products and fertilisers, including by lowering maritime insurance costs and improving access to ports and payment systems. Does this not contradict existing sanctions policy, particularly given the lack of Russian concessions toward achieving real peace?

Yes, I believe this reflects a relaxation of sanctions that provides Russia with more economic opportunities than it previously had, without any clear justification. Ukraine has been relatively successful in exporting its agricultural products from Odesa via the Dardanelles and the Bosphorus.

I am not certain it will truly benefit from this agreement. It offers certain assurances that vessels will not become targets, but ultimately, the real beneficiary of the Black Sea deal may very well be Russia.

Does this initiative not set a precedent whereby Moscow can use diplomatic negotiations as a tool to ease sanctions without altering its aggressive policies?

Russia's short-term diplomatic strategy is quite clear: to lift as many restrictions and as much pressure as possible while continuing to wage war, particularly as they believe the battlefield dynamics favour them.

Their primary objective is to ease the economic pressure they are facing. Although this pressure has not been as severe as it could have been, it is still significant enough to prompt them to seek relief

The real question is why the United States should provide such relief if Russia is not changing its behaviour. If they are not making meaningful concessions on a ceasefire or demonstrating genuine intent to end the war, then there is no justification for reducing pressure. Thus far, they have shown no signs of doing either.

Peace by Easter

The White House is seeking to broker a ceasefire agreement by April 20th, which this year coincides with Easter for both Catholics and Orthodox Christians. In your opinion, does the Trump administration have a specific strategy for this?

No, I do not believe there is a specific strategy. At best, Trump has moved from claiming he could resolve the war in a single day to postponing the timeline to April. By Easter, there may be a declaration of progress so that he can claim success, but I would be very surprised if a comprehensive ceasefire were achieved by then.

As I see it, the Kremlin does not consider a ceasefire to be in its interests. They are willing to humour Trump because they have already secured major concessions from him on long-term matters - no full restoration of Ukraine’s sovereignty and territorial integrity, no NATO membership and no NATO security guarantees. The Russians do not wish to risk losing these advantages. Therefore, while they may engage in negotiations, there is no real indication that they intend to alter their long-term objectives.

US Special Representative Steve Witkoff identified the greatest obstacle to resolving the war in Ukraine as the status of Crimea and the four regions of mainland Ukraine occupied by Russia, calling them the «elephant in the room» in peace negotiations. Are there realistic scenarios for reclaiming these territories? What diplomatic, military or economic instruments might support this aim?

I believe there are alternatives, but they will likely involve a protracted war. The key issue is whether Ukraine can continue to fight if the United States again suspends military assistance. That is the leverage Trump possesses.

As for Witkoff, I believe he is frequently influenced by Russian propaganda, and what you have just mentioned is a prime example of that

The four regions and Crimea were not some internal issue - they were the targets of unprovoked Russian aggression both in 2014 and 2022. If anything, they are Russia’s problem, not Ukraine’s.

US National Security Advisor Mike Waltz proposed the idea of beginning negotiations to freeze front lines «where they currently stand». What consequences might this have?

Well, I am very concerned. One of the main issues I have with a ceasefire is that if it is declared along the current lines of contact and negotiations begin in Geneva, Vienna or even Riyadh, that line of ceasefire could quickly become a de facto border.

The longer the negotiations drag on, the more Russia will work to consolidate its presence - establishing administrative structures, integrating the occupied territories into its governance system and treating them as though they are part of Russia.

Eventually, they will claim that returning these territories is impossible. That is why I believe a ceasefire in this context poses a serious risk for Ukraine

Trump and Putin - a reset in relations

Russia speaks frequently of resetting relations with the United States. Is this realistic? What are the long-term security implications for the United States and NATO of Trump's growing trust in Putin?

Putin manipulates Trump with remarkable ease, relying on his KGB training and clear understanding of Russia’s strategic interests. Unlike him, Trump appears not to recognise any significant American interests in this situation.

He is willing to abandon Ukraine’s position because it simply does not matter to him

Trump sees his relationship with Putin as personal, believing that if he gets along with the Russian leader, then US-Russian relations must be strong. But Putin does not view it that way. This overly simplistic and naive approach to foreign policy - where everything is reduced to personal dynamics - is precisely what Putin exploits to achieve his own goals at Ukraine’s expense.

Recently, Bild published a rather dramatic report suggesting that Russia might invade Lithuanian territory as early as this autumn. How realistic is this scenario?

From a military standpoint, Russia could attempt such an operation, perhaps to secure a corridor to the Kaliningrad exclave. However, I do not think it is likely. Putin is eyeing several other parts of the former Soviet Union - Central Asia, the Caucasus and Moldova - where he might see opportunities to reassert Russian control.

If a ceasefire were reached in Ukraine, I believe he would prioritise these regions over the far riskier step of a direct invasion of NATO territory

However, if Trump continues to weaken NATO, Putin may eventually decide the risk is worth taking.

How would a potential US retreat from active European engagement under Trump affect the regional balance of power, and could the EU compensate for this security vacuum?

I believe that a US withdrawal from NATO would be a catastrophic mistake for both the United States and Europe.

Even a significant weakening of the Alliance would have serious consequences. Putin understands this well

He knows Trump is only in office for four years, and he may see this as an opportunity. Encouraging Trump to take steps that weaken or even dismantle NATO could bring long-term benefits for Russia. But Putin also realises that this window will not last forever - he cannot count on more than four years. That is why he is trying to manipulate Trump, seeking through diplomacy and political influence to achieve what the Russian military has so far failed to accomplish in Ukraine.

Given the current tensions in relations between Canada and the US - something few could have predicted - do you believe Canada might strengthen its cooperation with Europe to form a NATO-like alliance without the United States, in order to enhance European security?

Canada may attempt to do so, but it would be a serious mistake - for Canada, for Europe and for all interested parties. If the United States withdraws from NATO or if Europe effectively pushes the United States out, it will be a major blunder. Despite the damage that Trump has already caused and may yet cause, we must take a long-term perspective. He has 46 months left in office, but security relations between Europe and the United States will endure for decades. During the Cold War, one of Russia’s key objectives was to divide the West, but it never succeeded.

We now risk doing this to ourselves. It is absolutely vital to avoid that

It will not be easy with Trump, but we must remain focused on the long-term objective.

Trump’s approval ratings and another scandal in his administration

Although Trump's approval rating is at a personal high, it still remains below the 50 per cent threshold, and a slight majority of voters (51 per cent) currently disapprove of his performance. How focused is the American public on the White House's policy regarding Ukraine? Is there potential for public pressure on Trump to continue military support for Kyiv?

I still believe that is possible. Trump's approval ratings are declining, but for years, people have noted that he has what is often referred to as a «high floor and low ceiling» - meaning his ratings tend to remain within a narrow range.

At the same time, although Trump is the newly elected president, he is also a «lame duck» president, as he cannot run for a third term. This means his approval ratings could fall even further during a second term than they did during the first.

It is unclear how events will unfold, but for now, his ratings are gradually declining. If tariff uncertainty continues to affect the economy, this trend may persist.

Mr Bolton, during Donald Trump's first term, you served as his National Security Advisor. What was your initial reaction when you learned about the scandal involving the addition of The Atlantic’s editor-in-chief Jeffrey Goldberg to a closed chat where the topic of a US military strike on Yemen was discussed? What does such a precedent signify?

It was truly shocking. I cannot imagine why anyone would even consider using an unsecured, non-government communication channel. Signal is unlikely to replace the highly secure network that the US government has spent vast sums to develop over many years. No one has offered a reasonable explanation for this - because, frankly, I do not believe one exists. This is a serious issue for the Trump administration. We shall have to wait and see whether it dissipates or not.

But one thing is clear - when high-ranking American officials act so recklessly, it only encourages America’s adversaries to intensify their espionage efforts

During our conversation, you emphasised that Trump’s time in office is limited to four years and that he will eventually leave the White House. Do you believe JD Vance might be a contender to succeed him in the future? What would such a figure in the White House mean for America, the world and global security?

It is far from certain that he will even receive the Republican nomination. His chances will largely depend on how popular the Trump administration is two to two-and-a-half years from now. If the economy slips into recession due to tariffs, it will damage anyone associated with Trump's presidency.

Meanwhile, although the Democratic Party has shown little momentum in the four months since the election, it may field a strong candidate in 2028. There are no guarantees that Vance will win the nomination or become president.

Historically, only two vice presidents have been elected president immediately after their vice-presidential terms: George H. W. Bush in 1988 and, before him, Martin Van Buren in the early 19th century. It is a rare occurrence. Some vice presidents have won presidential elections later in their careers, but direct successors to the president they served with are extremely rare.

This project is co-financed by the Polish-American Freedom Foundation under the «Support Ukraine» programme, implemented by the Education for Democracy Foundation

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Over the past week, former President Donald Trump has mentioned various figures regarding the military aid the United States has provided to Ukraine over three years of war. He has cited amounts such as $500 billion and $350 billion.

According to estimates by the "Economists for Ukraine" group, the military aid transferred by the U.S. to Ukraine amounts to $18.3 billion. An additional $32.6 billion represents direct budgetary support in the form of reimbursements, which was distributed, among other means, through the World Bank. Meanwhile, the U.S. government has assessed the total volume of its military aid to Ukraine at $65.9 billion.

— We analyzed a vast amount of publicly available data and identified the reasons for discrepancies in the reported figures, — explains Anastassia Fedyk. — When considering only military aid, our experts assessed all the equipment and technology Ukraine was set to receive, taking into account their condition, age, and usability. It makes a significant difference whether equipment was newly manufactured by American companies last year or if it had been out of use for over a decade and was marked for decommissioning. Evaluating all such equipment at the same value is incorrect.

For instance, while the U.S. Department of Defense reports that it has transferred $31 billion worth of weapons and ammunition to Ukraine (under the Presidential Drawdown Authority, which allows the U.S. president to provide military aid from Pentagon stockpiles without congressional approval), the majority of this equipment was outdated and no longer in use by the U.S. Armed Forces. According to expert estimates, the actual value of this aid is around $12.5 billion.

Another crucial aspect to consider when calculating expenses is how much the United States has gained in profit or other benefits by providing aid to Ukraine.

— We plan to analyze this aspect in detail in our next study and evaluate the specific economic benefits the U.S. has gained from military and financial support to Ukraine. This includes increased profits for the defense industry and new contracts for American companies, — notes Anastassia Fedyk.

Scholars from the University of California, Berkeley, the Stockholm School of Economics, Minerva University, and the AI for Good Foundation worked on the report for approximately two months. "The main goal of this study is to prevent disinformation and the spread of false data regarding U.S. aid to Ukraine. It also aims to demonstrate, using concrete figures, that European countries and the United Kingdom have provided Ukraine with equipment, weapons, and other types of aid in proportions comparable to the U.S. contribution," Fedyk explains. Notably, the European Union estimates the total volume of its financial, military, and humanitarian assistance at $145 billion, while the United Kingdom has provided nearly $16 billion.

Why, then, does former U.S. President Donald Trump exaggerate the aid figures so drastically? According to Anastassia Fedyk, this may be an attempt to negotiate more favorable terms in upcoming resource agreements or a strategy to discredit the previous administration by portraying its policies as unprofessional and wasteful. Specifically, Trump may be trying to create the impression that his predecessors neglected American citizens while allegedly spending "enormous" amounts to support Ukraine, which is suffering from the war with Russia.

— That is why it was important for us to present accurate data — specific amounts, figures, and facts — to show the real state of affairs. We wanted to prove that American citizens were not deprived of access to social or government services due to aid to Ukraine, explains Anastassia Fedyk.

On the contrary, many people gained jobs, and companies involved in the production and supply of aid expanded their manufacturing capacities and contributed to budget revenues

In her opinion, the results of this analysis will also be useful for Ukraine, as they will allow for negotiations on equal terms, provide a better understanding of the real value of the aid received, and prevent manipulations regarding its scale.

The researchers from "Economists for Ukraine" also analyzed allegations of corruption and possible embezzlement of funds coming from the U.S.

They found that the level of corruption associated with the use of American aid is among the lowest compared to all other countries that have received support from the United States

— Accusations of corruption can harm Ukraine’s reputation as an aid recipient. However, thorough audits indicate that Ukraine has handled the provided funds responsibly. Moreover, budgetary assistance was granted in the form of expense reimbursements based on receipts. This should be emphasized to prevent the formation of a negative image, which some try to impose, notes Professor Fedyk.

In her view, American citizens' attitudes toward Ukraine have not deteriorated, but many still do not fully understand the actual scale of aid provided to Ukraine. Americans continue to support Ukraine and consider their assistance important and beneficial. Therefore, it is crucial to spread truthful information to avoid misunderstandings, even when high-ranking officials fuel such misunderstandings.

Economists for Ukraine is a non-partisan economic think-tank, part of the AI for Good Foundation, a US 501(c)(3) Public Charity whose mission is to promote economic and community resilience. The Economists for Ukraine network includes more than 400 economists representing the world’s leading academic, scientific, and economic institutions.

A herald of apocalypse or a much-needed disruptor of the current world order? Donald Trump spent his first three weeks as US president in turbo mode. Dozens of decisions and executive orders, even more statements and extended interviews - he has dominated the global news space and is ready for decisive action.

The absolute priority of the new Administration is ending the war in Ukraine. Is a swift peace possible, and how long-lasting might it be? Senior fellow and adviser at the Centre for European Policy Analysis (CEPA), British writer and journalist Edward Lucas answered these and other questions in an exclusive interview with Sestry.

A spring truce

Maryna Stepanenko: According to The Independent, Donald Trump wants to end the war in Ukraine by spring. How realistic is such a plan?

Edward Lucas: I do not think even Trump himself seriously believes he can end the war by spring. He may be able to initiate some negotiations. Perhaps he will manage to alter the current parameters of the war, but he will not end it.

The US president has repeatedly stated that he will exert pressure on Moscow, including through sanctions, should the Kremlin refuse to negotiate. We can see that the first threat - lowering the price of oil - has already begun to materialise. Trump said that reducing prices would affect Putin’s ability to finance the war. How effective could this approach be, considering Russia’s ability to diversify its energy exports, for example, to China or India?

A collapse in oil prices is a good idea in terms of increasing economic pressure on Putin. However, I doubt that it will be a decisive factor. I think the Russian economy has demonstrated remarkable resilience, both in terms of physical endurance against Ukrainian attacks on infrastructure and in terms of its export stability, import substitution capability, and overall ability to cope with sanctions. Thus, I would be surprised if low oil prices forced Putin to the negotiating table in a weak position. Nevertheless, I still consider it a good move.

Do you believe that Trump’s «carrot-and-stick» strategy - combining pressure on Moscow with open offers of negotiations - could force Putin to make concessions?

It is possible if you have the right sticks and the right carrots, but I am not an optimist.

I believe there is a significant risk of wishful thinking. It is entirely possible that Putin will irritate Trump to such an extent that the latter will return to supporting Ukraine with all the necessary weaponry, apply real pressure on Russia, and deal the Kremlin a decisive defeat on the battlefield. We would all be delighted by this, but I think the chances of it happening are rather low.

It is more likely that America will huff and puff but will not fundamentally change the situation. I think it is quite probable that Trump will tell the Europeans: «If you are so concerned about Ukraine, then fix the situation yourselves». Meaning they will have to provide more money and weapons instead of coming to the United States expecting Washington to solve all their problems.

This fully aligns with Trump’s worldview. He needs one major deal in the coming months because he wants to receive the Nobel Peace Prize. And this could be a deal that at least temporarily halts Russia’s war against Ukraine

However, it could also be a deal between the Israelis and major Arab states, particularly Saudi Arabia. Thus, he is searching for a large-scale agreement, but it does not necessarily have to involve Ukraine. And I believe that a peace deal concerning Ukraine will be much harder to achieve than one in the Middle East.

So, if the new Administration fails to make progress in resolving the war in Ukraine in the coming months, what are the most likely scenarios? Could Washington lose interest? 

If Trump does not consider European security important for America and believes that Europeans should handle it themselves, then Ukraine, as a key issue of European security, may fall out of his agenda.

Europeans will have to make considerable efforts to convince Trump of Europe’s importance, as he perceives it rather negatively and seeks to exert pressure for economic and business reasons

Could one imagine Trump addressing Congress to request another 100 billion dollars for Ukraine? It is not impossible, but it is unlikely. Therefore, large volumes of American aid for Ukraine this year seem unrealistic. 

At the same time, Putin believes he has the advantage on the battlefield and that the West is losing unity. He sees a gradual decline in morale in Ukraine and is not inclined to negotiate. If he is convinced he can win by military means, why would he agree to talks? 

Coincidentally, in Putin’s recent statements, we hear that Russia is supposedly ready for negotiations. The Russian president is also flattering Trump, speaking about his «good relations» with the current US president. What signals is Moscow thus sending to the White House? 

I do not consider Putin an idiot. And he knows it is important not to offend Trump. Of course, he will say he is ready for negotiations. 

However, I do not believe that Russia currently sees a need for serious negotiations. I suspect that Putin will sit at the negotiating table and say: «We want a demilitarised Ukraine. We want guarantees that you will never join NATO». And another two or three demands, including the incorporation of temporarily occupied territories into Russia. 

Would Trump consider this unacceptable? Perhaps not. Would Ukrainians consider it unacceptable? Almost certainly. Would Europeans be willing to support Ukrainians in their continued resistance? Possibly. But I am not sure.

But I believe that this is the most likely scenario. From Ukraine’s perspective, we will see quite an unreasonable negotiating position from Putin. And this is not the same as the beginning of real negotiations

What can Ukraine do?

Trump has said he is ready to meet with Putin at any time. Is there a risk that Ukraine’s fate could be decided behind Kyiv’s back? 

There is always a risk of another Yalta (referring to the Yalta Conference of 1945, when the leaders of the USA (Roosevelt), the UK (Churchill) and the USSR (Stalin) determined the post-war world order, effectively dividing Europe into spheres of influence, leading to Soviet control over Eastern Europe, - Edit.). Trump may want to humiliate Europe and declare that he has decided everything, forcing others to accept his deal.

To prevent this, Ukraine and Europe must act as one entity and clearly state that they will not accept an agreement between Trump and Putin

Even if the US steps aside, Ukraine must demonstrate that it will continue to fight. This alone will strengthen its negotiating position. However, there are two realities: diplomatic manoeuvres and the situation on the battlefield. What happens at the negotiating table depends on events at the front. 

Ukraine is rightly asking its partners to guarantee its security to prevent another Russian attack should an agreement on a ceasefire be reached. Given the painful experience of the Budapest Memorandum, what should new guarantees for Ukraine look like, and what could ensure their real enforcement?

This is the key question: is a genuine truce possible, and how can Ukraine’s security and development be ensured? This requires strong military and security guarantees, but paper agreements do not work. NATO is not ready to accept Ukraine, and the deployment of 40-60 thousand troops to monitor the truce seems unrealistic. 

An alternative could be providing Ukraine with high-tech weaponry - for example, Taurus or Tomahawk missiles. But is the West truly ready to allow Ukraine to use them at its own discretion? This is a major question. 

My pessimistic forecast is that there will be a truce, but without reliable security. Russia will test these guarantees, they will prove weak, and the situation will eventually become even worse

The «Axis of Evil»

As soon as Trump concludes a peace agreement, a race between Russia and the West to prepare their armies for the next conflict will begin, - writes The Times, citing sources. Given the economic sanctions and the depletion of resources due to the prolonged war against Ukraine, will Russia be capable of competing with the West in modernising its armed forces? Could the Kremlin find support from a «new axis of aggressors» for this?

It is worth remembering that, ultimately, Russia has an economy comparable to or slightly smaller than Italy’s. And they have paid a terrible price for the first three years of the war. However, predictions of Russia’s economic collapse have turned out to be wishful thinking. 

Putin still has many options, both in terms of economic resilience and mobilisation. And as long as Russians believe this is an existential struggle for their country’s future, they will endure pain and sacrifices. Moreover, I think Putin sees that the West is still very weak, and he now has a great opportunity to capitalise on military successes in Ukraine, advance further, and possibly return after a ceasefire to completely eradicate the remnants of Ukrainian resistance, taking advantage of these, I fear, weak security guarantees.

He also has an opportunity to toy with NATO and the weakness of the Alliance’s northeastern flank, particularly in the Baltic states, where we still lack proper defences. There are plans, but no adequate defence capabilities. This is a very tempting target.

And it is not difficult to imagine that by the end of this year or next - Putin could secure a massive victory in Ukraine and dismantle NATO, making the economic and other pains caused by such a victory worthwhile.

Could a scenario arise in which Trump pressures China to, in turn, influence Russia into signing a deal with Ukraine?

China has a unique ability both to pressure and support Russia. But is Beijing interested in US mediation, after which Trump would take all the credit? Perhaps, if Beijing secures its own benefits.

However, China has no experience in international diplomacy that would suggest an ability to broker major deals. It prefers when Western countries ask it to influence Russia - this gives Beijing additional leverage

Given the trade disputes between the US and China, it is unlikely that Xi Jinping will consider providing Trump with a geopolitical favour regarding Ukraine a priority. 

Is there a tool for long-term containment of Russia? 

The only long-term hope is the transformation of Russia from an empire into a peaceful state. If this happens, resolving other problems will become significantly easier. However, as long as Russia remains imperial, the threats will not disappear.

NATO is no longer an effective response - it is too large, slow, and divided. Coalitions of countries that understand the threat and are ready to contain Russia in different regions are needed. This process should have begun 10-15 years ago. Now we are late, and perhaps even too late.

‍Do you believe that a coalition of willing countries could provide security guarantees for Ukraine? If NATO is not an option, could countries such as the United Kingdom, Germany and France collaborate by deploying their troops in Ukraine to prevent further Russian aggression? 

A coalition of allies could theoretically deploy troops in Ukraine as a deterrent force, but what happens when the time comes to actually use it? Are the United Kingdom, France, Germany, and Poland ready to go to war with Russia over an Odesa blockade or a new offensive? 

It is doubtful. To make guarantees truly reliable, 100 thousand troops would be needed, similar to West Germany during the Cold War. Europe does not have such resources - even 50 or 10 thousand would be hard to find. 

European allies and NATO simply lack the capacity to mobilise the massive forces necessary to defend Ukraine. They could protect Ukraine through modern weaponry.

Theoretically, nuclear weapons could be placed on the frontline in Ukraine as a guarantee

However, this is associated with enormous political challenges, and I am not sure they are ready for such a level of risk. Without sufficient strength and willingness to take risks, providing truly effective security guarantees is extremely difficult. 

The future of Putin’s Russia

Russia propagates the narrative that its economy is immune to Western sanctions. The EU claims this is untrue. How do you assess the situation inside Russia? How much longer can Moscow sustain its war against Ukraine under current sanctions pressure? 

We tend to engage in wishful thinking when speaking about Russia. It has managed to mobilise its resources, even at a tremendous cost to its own future. The economy is suffering serious blows, financial system problems are accumulating, including a rise in bad loans in the private sector. Yet, despite this, Russia continues to wage war. 

We want it to collapse, so we are inclined to believe it is already happening. However, Russia continues to find ways to sustain the war: it receives drones from Iran, recruits troops from North Korea, and circumvents sanctions through China. Moreover, it still has unused resources. 

Future generations of Russians will be forced to pay for Putin’s imperial ventures. But at the moment, Russia is not backed into a corner. It is likely to endure for at least another one or two years, and even if the situation becomes critical, the Kremlin will find ways to adapt.

Has the West exhausted its imagination regarding sanctions? Are there still powerful tools that have not yet been applied? 

Of course. We have not even used all available options. The West is looking for sanctions that will strike Russia without causing pain to itself. That is why we restrict pipeline oil and gas imports but not liquefied natural gas. We block crude oil supplies but not petroleum products. As a result, sanctions create difficulties for Russia but also open up a business model for those who help circumvent them - from Russians to businessmen in Dubai. 

I would impose strict secondary sanctions, particularly against the «shadow fleet», bankers, lawyers and accountants who facilitate the evasion of restrictions. For example, I would strip them of visa-free entry to the US, Europe, and Britain. If you are a lawyer or trader in Dubai engaged in sanction evasion schemes, then to travel to the West, you will now have to queue at consulates alongside students, nannies, and asylum seekers.

A comfortable life for such people must come to an end

There are still many possibilities, but political will is lacking. And Putin sees this. Ultimately, the West has grown tired, frightened, and distracted - and Ukraine is paying the price. This fills me with both sorrow and anger. 

What might Russia’s economy look like in 5-10 years if international isolation continues? 

In the long term, Russia is increasingly turning into a dependent vassal of China. Chinese companies are buying up assets for next to nothing, investing in strategic sectors, and Russia’s economy is becoming ever more oriented towards exports to China. Trade and investment ties between the countries are only strengthening. In the end, Russia risks becoming a raw material appendage of the Chinese Communist Party - hardly the future Putin promised his citizens.

Cover photo: Deposit/East News 

The project is co-financed by the Polish-American Freedom Foundation under the «Support Ukraine» programme, implemented by the «Education for Democracy» Foundation

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