Russia’s special military operation in Ukraine has fueled an unprecedentedly wide range of restrictions imposed by the Western states against Russia. The sanctions hit all key sectors of the Russian economy, but does this mean that they will work? This article’s key idea is that the imposed restrictions are unlikely to be effective enough to let the countries that initiated them attain their political goals. The sanctions have not changed Russia’s policy towards Ukraine and there are no signs they ever will. At the same time, they have proven to be relatively effective in terms of the damage inflicted on the economy. Although the Russian economy has avoided an immediate collapse and is adapting to the imposed restrictions, the sanctions my affect the behavior of Russia’s foreign contractors. For fear of secondary sanctions and coercive measures they may suspend or curtail transactions with Russian partners. Not only contractors in the Western countries but also numerous partners in friendly states tend to opt for this strategy. Their governments will not formally join the Western restrictive measures, but businesses will have to watch their step or abandon partnership with Russia altogether.