There has been a further ratcheting up of sanctions by Europe against Russian oil imports. Also, the transportation of Russia oil is under threat of sanction, as it’s cut off from insurance market by the UK and EU. Russia is now the most sanctioned nation on earth. But the value of its exports continues to rise, with the increases of oil prices. So, are sanctions failing to have an impact? Timothy Ash has been a professional economist for more than 30 years, with two thirds of that in the banking industry. Timothy’s specialism is emerging European economics, and he writes and blogs extensively on economic challenges for leading publications such as the Kyiv Post, Atlantic Council, the Financial Times, and the United Business Journal. He is also an Associate Fellow in the Russia and Eurasia programme at Chatham House and has advised various governments on Ukraine-Russia policy and specifically on the impact of sanctions.