Perhaps no one except Russian President Vladimir Putin really knew the full extent of his country’s plans to invade Ukraine. But Putin might have underestimated how quick U.S. President Joe Biden and his counterparts in other Western nations would come together to dole out crippling economic punishments against Russia.
The two resulting wars—one fought with tanks and bombs, the other with sanctions and asset seizures—have created a humanitarian crisis in Ukraine, devastated Russia’s economy, and roiled the world’s financial system.
