Economic sanctions have long served as a persistent instrument of international relations, enduring despite profound transformations in the global order. During the Cold War, they constituted a key mechanism of confrontation between the two superpowers - the United States and the Soviet Union. Since the United States first imposed sanctions on the USSR in 1948, such measures continued in various forms until the collapse of the socialist state. Russian Federation, as the USSR's successor, has once again become the target of extensive Western sanctions, initially following the 2014 annexation of Crimea and later intensified after the 2022 invasion of Ukraine. Sanction thus appear as a constant feature in the West's relations with Russia, yet notable differences exist between the Cold War and contemporary contexts. Most prominently, these differences stem from divergent economic systems - the Soviet planned economy versus Russia's present form of state capitalism - as well as from contrasting international structures, namely the bipolar order of the Cold War and today's emerging multipolar system. This paper employs a comparative historiographical and economic analysis to examine how distinct economic systems - communism and capitalism - respond to sanctions and to assess the broader effectiveness of sanctions as tool of international relations under differing systemic conditions. By analyzing the evolution, structure, and outcomes of sanctions regimes against the USSR and the Russian Federation, the study aims to contribute to a deeper understanding of the relationship between economic instruments of power and changing configurations of the international order.

Authors:
Andrija Jovanovic, Institute of European Studies, Serbia

About the Presenter(s)
Mr. Andrija Jovanovic is a Researcher Trainee at the Institute of European Studies in Belgrade, Serbia, and a PhD candidate in History at the Faculty of Philosophy, University of Belgrade.

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