What sanctions can the United States take if Russia invades Ukraine? | US Foreign Policy

Date:

Joe Biden enters Tuesday Virtual Summit After close discussions with Vladimir Putin on a joint response to the Ukrainian invasion with European allies for several days Extensive Of disciplinary action at his disposition.

Military support for Kiev will increase and the eastern side of NATO will be strengthened, but the main focus will be on sanctions. US Secretary of State Antony Blinken said it would include “influential economic measures ahead of the past.”

Anders Åsland, an adjunct professor at the Center for Eurasian, Russian and Eastern European Studies at Georgetown University, said: “There are so many tools available to them.”

Edward Fishman, Non-Resident Senior Fellow of the Atlantic Council, said:

“Current sanctions against” Russia It’s a light touch. If Iran’s sanctions are ten-tenths stronger, then Russia’s sanctions today are probably two or three, “Fishman said. “Major state-owned Russian companies are not totally sanctioned.”

The menu of potential economic measures is extensive.

Bond market

In April, the United States banned US financial institutions from purchasing new Russian government bonds, but the impact was negligible. Washington could go further and sanction the secondary market for Russian bonds. There, they are resold and packaged with other investments.

Nord Stream 2

The gas pipeline from Russia to Northern Europe has been completed, but has not been approved for use by German energy regulators. Members of the new German coalition have been skeptical of the project, and if Russia invades Ukraine, the project could be completely canceled.

Sanctions on Russian companies and banks

“The Biden administration could impose full sanctions on major Russian banks, energy companies, defense companies … or ban investment and service provision in traditional Russian oil projects altogether. There is, “Fishman said. Two possible financial goals are the huge VTB Bank and Gazprombank.

Oligarchy and sanctions on its family

The U.S. Treasury is hesitant to impose sanctions on Russia’s oligarchs after the measures taken against Oleg Deripaska affected the activities of his aluminum company Rusal in Ireland and caused a major rift with Dublin. I did. Following the aggression, Congress may add Putin-friendly oligarchs to the blacklist added to the defense budget. Putin’s circle family could also be targeted more extensively.

Quick

The biggest problem with Biden’s arsenal is the threat of excluding Russia from Swift, a global electronic payment system based in Belgium. This is one of the most unfavorable measures used against Iran and will make Russia a paria of international finance. Åslund describes this weapon as a “sledgehammer” and will probably be used as a last resort.

What sanctions can the United States take if Russia invades Ukraine? | US Foreign Policy

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