The White House and U.S. officials have threatened Russia with financial sanctions if it invades Ukraine. Here’s a look at how and why the West might opt to target specific people or industries in Russia, rather than agree to a sweeping ban or embargo.
Geopolitics, European dependence on Russian natural gas and the sheer size of Russia are some of the reasons keeping the U.S. from subjecting Moscow to a more comprehensive embargo similar to what is seen in Cuba, North Korea and Iran.
Germany’s leaders have promised that the future of the new Nord Stream 2 pipeline would be “on the table” if Russia moves against Ukraine. The pipeline was built to move Russia’s natural gas directly to Germany, bypassing Ukraine. Blocking it would hit Russia’s gas exports in a crucial market.According to the CRS, several politically connected Russian billionaires and their companies are targets for sanctions.
White House press secretary Jen Psaki recently warned that Russian President Vladimir Putin and his top officials could incur personal penalties “far beyond what was done in 2014” because of Crimea.Personal sanctions are not nearly as effective as those on industries, which the administration is also considering. But they can inflict psychological pain and make targets international pariahs. For instance, some Republicans in Congress want the U.S.
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