Russia: No catastrophe if Russia disconnected from Swift

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Security Council Deputy Chairman Dmitry Medvedev told Sputnik on Thursday that Russia is not afraid of permanent sanctions.

On the possible ban on transactions with US currency by Russia, Medvedev articulated that payments in Yuan are very promising. 

Commenting on Russia's disconnection from Swift, Medvedev expressed that it would be "no fatal catastrophe."

"Sanctions in general for our country are a permanent thing. The fact is that - I have repeatedly said this - we got used to these sanctions,” Medvedev said, adding that “This is not a figure of speech or bravado, but simply a statement of what actually happened ... Therefore, let them use sanctions as internal rhetoric in order to satisfy their voters or their political establishment in general,” Medvedev said.

Sanctions as a go-to solution

According to Daniel W. Drezner, the US has been using sanctions as a go-to solution for nearly all their issues in foreign policy. He argues that sanctions strain ally relationships and antagonize adversaries. 

Drezner argues that sanctions demonstrate America's downfall and should be used more carefully by Washington, adding that they should be treated like "a scalpel, not a Swiss Army knife."

"Policymakers should treat them like a scalpel, not a Swiss Army knife

Additionally, many US sanctions have backfired against it, and most Presidents are eager to impose sanctions rather than remove them. This he argues, lowers the trust the world has for the US commitment to remove sanctions.

Countries targeted by sanctions are always looking for alternatives, and many find some. China has launched a digital yuan that allows users to avoid using the US dollar completely.

Drezner adds that the Biden administration may be aware of the overuse of sanctions and that their effectiveness is wearing off. He suggests that Washington has gotten so obsessed with sanctions that they may have become oblivious to the long-term ramifications of them and that by continuing to rely on them, the US is a "one-trick-pony," incapable of demonstrating that it can compete with other nations.