International Working Group on Russian Sanctions: Working Group Paper #4 “Strengthening Financial Sanctions against the Russian Federation”2022-06-22 | Expert publications, Sanctions
The importance of financial sanctions reflects Russia’s dependency on the Western financial system, in particular on Western reserve currencies, as backing for the ruble, and on Western markets and banks, including to facilitate trade. We want to take advantage of this dependency. European, American, and Canadian governments already have imposed meaningful sanction on Russian financial institutions, but much more should be done. Every day that Putin’s army remains in Ukraine is a day that sanctions against Russia should be increased.
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Additional memos, papers, and articles that informed this white paper can be found on the Stanford Freeman Spogli Institute for International Studies website: https://fsi.stanford.edu/working-group-sanctions.