These sanctions should be imposed towards Russia instantly

An indication shows international foreign money change charges to the Russian ruble at an change bureau in Moscow, Russia, on Monday, Feb. 28, 2022. The Financial institution of Russia acted shortly to protect the nations $1.5 trillion financial system from sweeping sanctions that hit key banks, pushed the ruble to a file low and left President Vladimir Putin unable to entry a lot of his warfare chest of greater than $640 billion. Photographer: Andrey Rudakov/Bloomberg by way of Getty Photos

Ukrainian bankers, analysts and economists have joined forces to develop a listing of sanctions that haven’t but been launched, however may considerably hit Russia and pressure Russian dictator Vladimir Putin to retreat.

In fact, these measures may harm not solely Russians, but in addition the economies of the collective West. However on the finish of the day, cash is simply cash. Now individuals’s lives are at stake. We lastly have to determine what the phrase “sanctions” will imply in our civilization. It’s time to choose. Or fairly, Putin left us no selection. If we don’t do what now we have to do as we speak, tomorrow we’ll need to pay a good higher value.

Right here’s what we predict must be achieved:

Maximize stress by way of monetary sanctions:

  1. Broaden SWIFT blocking and SDN designation to all banking system.
  2. Full ban by Visa and MasterCard.
  3. FATF ought to blacklist each Russia and Belarus.
  4. De-listing of all Russian securities from world inventory exchanges, elimination from all investor indices, disconnecting Russia from world securities and FX clearing and depositories.
  5. Blanket ban for US and EU pension techniques to carry Russian property.
  6. Blanket ban for any Russian entity to boost funds overseas.

Broaden all current sanctions on Russian officers and oligarchs to their households. Ship kids and wives of sanctioned Russians from EU and US again dwelling. All current property ought to be confiscated.

Property confiscation for all sanctioned Russians in EU and US. This could lengthen to cryptocurrency wallets, together with ‘crypto vaults’ in Switzerland.

Present sanctions checklist to be expanded to all Duma members (together with future elected members), senior authorities officers and top-100 oligarchs.

G7 ought to put stress on UAE and different world monetary hubs to make sure worldwide compliance with sanctions regime.

No world monetary providers for Russian and Belarus residents: current accounts to be closed and no new accounts opened in banks, brokerages, digital cash establishments. Ban on acquisition of property together with actual property. All current property ought to be frozen.

No journey and schooling for Russian and Belarus residents: journey and visa ban for all passport holders, cancel all pupil visas and request to depart. Money limits for Russians returning to Russia to 2000 USD.

No loopholes by way of ‘golden passports’: ban future golden passports, withdraw current ones for sanctioned individuals and their households.

No worldwide commerce for Russia and Belarus: embargo on oil and fuel, army exports, basic ban on exports from the West to Russia (chemical merchandise, agriculture seed inventory, meals and drinks, pharma, attire, electronics, spare components, machine-building, automobiles and cosmetics).

Block all know-how transfers to Russia: cease Western exports of technological tools (computer systems, servers, semiconductors, shopper gadgets), increase this to Western software program (no new installations and updates, current licenses to be pulled) and cloud providers (to be ceased instantly). All providers reminiscent of Google Playmarket, Apple Retailer, Google Maps, Amazon Net Providers ought to be topic to this rule and not out there in Russia.

Block Russian and Belarus media channels and propaganda-oriented bloggers from entry to Youtube and different streaming platforms. International satellites ought to be banned from airing RT.

Block maritime, railway and airport logistics for Russian owned vessels: no entry, no port service, no refuelling.

Sanctions ought to be expanded to all state owned enterprises in Russia aiding their army effort: Gazprom, Rosneft, Roscosmos, RZhD, Rosatom. All joint initiatives with EU/US ought to be frozen. All property within the West ought to be frozen.

Restrict provision of auxiliary providers which allow giant Russian industries:

  1. Provision of insurance coverage and reinsurance for dangers, freights and vessels.
  2. Auditing by ‘Massive 4’ corporations.
  3. G7 ought to put stress on ‘tax haven’ international locations from opening accounts and registering new corporations for Russian beneficiaries.
  4. Use of bearer shares by Russians ought to be blocked in EU and Switzerland.

Freeze Russia and Belarus SDRs at IMF and use these for a brand new program for Ukraine.

Concentrate on very widespread freeze of property of Russia sovereign in addition to state owned corporations to assist Ukraine get reparations from Russia sooner or later.

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