Sanctions have not crushed Russia because it's not a state-run economy as the West's 'fairy tales' suggest, says a Russian economist

• The West has made a key error in assuming Russia's economy is state-run, said a Russian economist.
• Russia is a "market economy" with private companies adapting quickly to trade restrictions, he said.
• Russia's economy appears resilient even after 22 months of sweeping sanctions.

The West and its allies unleashed a swath of sanctions against Russia following its invasion of Ukraine, but the restrictions have yet to compel Moscow to put an end to the war.

This is because there's a fundamental flaw in the West's assumptions about Russia's economy that has hampered its efforts to force Moscow's hand to halt the war, said a Russian economist.