News3 News Now Investigators

Actions

Creighton economist: 'Grave' consequences for Russians if Putin doesn't negotiate settlement

Local professors weigh in on impact of sanctions on Russia
Posted at 7:28 PM, Mar 03, 2022

OMAHA, Neb. (KMTV) — Creighton University economist, Ernie Goss says things don't look good for Russia's economy after Western nations implemented sanctions against the country as it invades Ukraine.

This war, he said, will be much more costly than the Soviet-Afghan war.

"The supplies alone," he said, "are going to be costly to a nation going through a deep recession, and, depression, even."

Goss said trade is a win-win for countries. So, he says cutting it off or making it more difficult is a lose-lose. But, in this case, he believes it'll be more of a loss for Russia.

He warns he's not a political scientist or geopolitical expert, but he says he doesn't see how Putin could remain in office if he fails to end the war, especially if more sanctions are put in place.

For more, watch the video above, or watch the complete interview below.

Full interview: Creighton economist on impact of sanctions on Russia

Download our apps today for all of our latest coverage.

Get the latest news and weather delivered straight to your inbox