The West Is Capable Of Stopping Putin's War With A Single Economic Blow

The Kremlin's ability to finance the war is not unlimited.

The West has powerful economic tools at its disposal that could seriously weaken Russia’s military machine, but it has not yet made full use of them, writes the magazine TIME (translation by Charter97.org).

Since the start of the war, more than 1,200 international companies have voluntarily left the Russian market. According to their estimates, these firms accounted for about 40% of Russia’s pre-war economy and dealt a serious blow to the Kremlin, depriving it of technology, investment, and international legitimacy.

“The corporate blow has already been dealt. Now governments must show the same resolve,” the authors argue.

At the same time, the researchers argue that the West’s sanctions policy remains inconsistent. They point to loopholes in energy restrictions that have allowed Russia to increase oil exports and maintain significant revenues.

Some European companies have continued to do business with the Russian market despite political criticism of Moscow. Among them are France’s TotalEnergies, Airbus, and Austria’s Raiffeisen Bank.

Pressure on the Russian economy must be intensified through stricter controls on oil exports, secondary sanctions against buyers of Russian resources, and restrictions on Moscow’s access to financial schemes designed to circumvent sanctions.
“A combination of actions by governments and the private sector could deal a decisive blow to the Kremlin’s ability to finance the war,” the authors write.

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