Journal of Security and Sustainability Issues

The safety and security research is presented as a problem of multiple levels. This article is focused on security on a national level within the wider international community. More specifically, it evaluates economic policy exercised by several members of the international community as the response to the Russian annexation of Crimea in 2014. “Economic statecraft” as a technical term presented by David A. Baldwin in the book with the same name represents economic policy exercised by International actor or multiple actors to influence the behavior of another actor in the desired direction. The main advantage of such tool is it`s non-violent nature as the opposite of direct military involvement often resulting in death and various atrocities. Baldwin as a realist or perhaps neo-realist on the field of the theory of international relations provides us with tools for assessment of the viability of economic sanctions. Evaluation tools can be used in retrospect when the wider economic data is available. Economic statecraft is the comprehensive name for economic policy instruments such as economic sanctions, economic warfare and foreign aid. When these are used in the particular case, their usage can be consequently evaluated taking into consideration four main criteria. The aim of this paper is to analyze, evaluate and discuss economic sanctions imposed against Russia as a consequence of Crimean annexation. A secondary aim of this article is to synthesize acquired knowledge and assess the success of sanctions in this particular case. Final part of this article reviews the outcomes of such economic policy using the Baldwin`s “failure makers.”