The NYT reported that sanctions failed to turn the ruble into "ruins."

Predictions that economic sanctions would turn the ruble into ruble have not come to pass, so the question of the "value" of restrictions that US President-elect Donald Trump (who will take office on January 20) might impose is causing controversy, writes The New York Times.

The newspaper notes that, despite Russia's disconnection from SWIFT and the ban on dollar settlements, Moscow has found a way to conduct settlements and expand trade.

Experts interviewed by the publication believe that sanctions and continued military aid to Ukraine will almost certainly become "bargaining chips in any negotiations." At the same time, the NYT notes, Trump himself has stated that he would like to use sanctions "as little as possible" and criticized the current administration's spending on aid to Kyiv.

Elina Rybakova, vice president of the Kyiv School of Economics and a non-resident fellow at the Peterson Institute for International Economics, believes that sanctions will be "an extremely valuable aid" in Trump's negotiations with Russian President Vladimir Putin.

Jeffrey Schott, a senior fellow at the Peterson Institute for International Economics, believes that sanctions were imposed "when you had one hand tied behind your back," so they have not been as effective as expected.

Moscow considers the sanctions imposed illegitimate and ineffective. Putin said that the US, by using the dollar as a sanctions tool, is undermining his credibility. The lifting of sanctions is one of Russia's conditions for a ceasefire in Ukraine and the start of negotiations.

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