Podcast: Sanctioning Oligarchs

 

This week on my TOL Podcast, I mused about the logic of the economic measures against Russia, particularly the oligarchs. Below the embedded podcast I have a few more tings pinned on the wall.

New Things Pinned to the Wall

ISW reports that 

"The Kremlin is also taking measures to prop up Russian businesses and targeted sectors. Russian President Vladimir Putin signed a decree to accelerate Russia’s domestic IT development on March 2, likely to minimize future Russian reliance on Western technology and imports following the withdrawals of Western tech companies from the Russian market. Mishustin also announced additional government provisions including preferential interest rates and tax and inspection exemptions for Russia’s IT sector. State Duma Chairman Vyacheslav Volodin created the Council for Social Protection and Support of Citizens under Sanctions on March 2."

U.S. launches 'KleptoCapture' task force : Reuters quotes: "To those bolstering the Russian regime through corruption and sanctions evasion: we will deprive you of safe haven and hold you accountable," said Deputy Attorney General Lisa Monaco. "Oligarchs be warned: we will use every tool to freeze and seize your criminal proceeds."

BBC Reports on Liz Truss (Mar 3, 6:13 EST):

Uk Foreign Secretary Truss: "We need to... degrade the Russian economy." "We need to make sure... that the Russian economy is crippled so it is unable to continue to fund Putin and the war machine."

CNN Reports (Mar 4): Putin: “We will just have to move some projects a little to the right, to acquire additional competencies. But we will still solve the problems that we face” he said. “In the end, we will even benefit from this because we will acquire additional competencies.”

CNN Reports (Mar 4): European Union's foreign policy chief Josep Borrell: “We are not on the regime change. The sanctions are not in order to provoke a regime change in Russia,” Borrell said. "On the contrary, the sanctions have been triggered by the war. And the purpose is to weaken the Russian economy, to make the Russian economy feel the weight of the consequences and to increase, strengthen the position of the Ukrainians on the coming negotiations. But nothing about regime change," he said.