The [[United States Treasury]] seized Russian assets in the United States and refused to allow the Russian government to pay U.S. bond holders of Russian debt with dollars. The United States slapped over 9,600 sanctions against Russian officials, the state, companies, oligarchs and other entities, more restrictions against it than [[Iran]], Syria, [[North Korea]], [[Venezuela]] and [[Myanmar]] combined. President Putin responded, “The calculation was to quickly undermine the financial and economic situation in our country, to provoke panic in the markets, the collapse of the banking system, and a large-scale shortage of goods in stores...We can say with confidence that this policy against Russia has failed - that the strategy of the economic blitzkrieg has failed...Moreover, the sanctions were not without consequences for the initiators themselves...I am referring to the growth of [[inflation]] and [[unemployment]], the deterioration of economic performance in the United States and the countries of Europe, the decline in the standard of living of the Western peoples and the devaluation of their savings”.<ref>https://news.yahoo.com/wests-economic-blitzkrieg-unsuccessful-putin-153450454.html</ref>
On op-ed in ''[[The Hill]]'' observed:
{{quotebox-float|"In truth, of the world’s 195 countries only 65 have agreed to join the American sanctions regime — meaning that 130 have refused, including China, India, Brazil, Mexico, Indonesia, most of Asia, Africa and Latin America, countries that together constitute the vast majority of the world’s population. Consider also that the nations the U.S. currently targets with sanctions represent a powerful bloc strongly opposing what they regard as America’s economic [[bullying]]. A striking example of the rejection of U.S. assumptions of dominance was a recent meeting of the world’s leading financial nations — the [[G-20]] Summit — when the U.S. delegation walked out on a speech by a Russian delegate and only three of the other 19 delegations followed suit. All of this tells any objective observer that it is not Russia that is the world’s most isolated superpower but perhaps the [[United States]] itself.<ref>https://thehill.com/opinion/international/3507340-could-russia-win-a-public-relations-war-against-the-west/</ref>}}
===Fertilizers===
American and European sanctions on Russian fertilizer exports killed global food production.