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It is an inconvenience but they will just go to Macau, Dubai and anywhere else East.
It's not the same.
It's almost too late now, but you could have a meaningful and very powerful asset freeze, followed by a thorough evidencing of source of funds.
If that had been done swiftly in a unified manner it would be be exceptionally painful.
The US effectively unwound Switzerlands long history of banking secrecy overnight through strong arm tactics.
We had the same opportunity in relation to vast swathes of Russia wealth. Our government has just chosen not to.
hugo7
lynx
It is an inconvenience but they will just go to Macau, Dubai and anywhere else East. Russia isn't like North Korea, it has a huge amount of natural resources and has a natural resource hungry neighbour, he has made the calculation he can pivot East to survive. Which kind of flies in the face of his rhetoric that losing Ukraine is what made Russia lose it's place in Europe and why he wants it back.
An example being he has probably lost Nordstream 2 but will offset some of that loss with the proposed Power of Siberia 2 pipeline. That pipeline would allow them to redirect their western oil fields that feed Europe to China.