What other weapons could the West wheel out?
The debate turns to escrow accounts and secondary sanctions
PRESIDENT JOE BIDEN has promised to “ratchet up the pain” for Vladimir Putin over Russian atrocities in Ukraine. The EU vows wave after wave of “rolling sanctions”. Momentum is growing in the West to fire the two big economic weapons that have so far been kept largely locked in the arsenal: an embargo on Russian oil and gas, and “secondary” sanctions, which would penalise people and entities from other countries that trade with Russia.
This article appeared in the Business section of the print edition under the headline “The ordnance in the arsenal”
From the April 16th 2022 edition
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