The Financial Times reported on Tuesday that the United States is proposing to the other G7 countries that they replace the current sector-by-sector regime of sanctions against Russia with a ban on all exports to Russia except for a few exemptions.1 The EU and Japan are pushing back, but they trade more with Russia, so this kind of a ban would cost them more than it would the United States.
The frustrating part of this proposal is that it’s just another attempt to try to beat Putin with sanctions. Too many people in our government seem to think Russia can be defeated in Ukraine if we just impose one more set of sanctions, if we just limit a few more things we sell to Russia or cut back a little more on what we buy from Russia. It seems so easy – and cheap. Just impose enough sanctions and poof, Russia loses. Except it doesn’t work that way, and it certainly hasn’t stopped Vladimir Putin so far.
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