Why target Russian oil revenue?

Simon Johnson

Published Tue, Jul 5, 2022 · 05:05 PM

FOUR months into the invasion of Ukraine, the Russian army continues to grind its way relentlessly through the Donbas region. Some Western commentators are calling for more weapons to be supplied faster to Ukrainian forces. This is without question necessary to stop Putin, but is it sufficient to stop him soon – and in such a way that he doesn’t merely pause to re-equip before starting a new wave of bloody aggression?

According to Avril Haines, the US Director of National Intelligence, there is no prospect for the military conflict to end soon. It makes sense, therefore, to target the economics of Putin’s regime and his ability to wage a prolonged war – or a repeated series of wars…