Exactly this. All the criticism of how sanctions are supposedly ineffectual because current Russian weapons production still has access to Western parts misses the point entirely. Circumventing sanctions incurs cost, which in the end means fewer weapons produced and faster depletion of foreign currency reserves.
Sanctions make it more expensive for the sanctioned country to buy or sell the sanctioned goods.
If you know your Russian client can’t sell the gas directly to Europe and the West anymore, you’re not going to pay the same price as they would.
Exactly this. All the criticism of how sanctions are supposedly ineffectual because current Russian weapons production still has access to Western parts misses the point entirely. Circumventing sanctions incurs cost, which in the end means fewer weapons produced and faster depletion of foreign currency reserves.