February 5, 2023
An indication shows foreign currency echange trade charges to the Russian ruble at an trade bureau in Moscow, Russia, on Monday, Feb. 28, 2022. The Financial institution of Russia acted briefly to protect the countries $1.5 trillion economic system from sweeping sanctions that hit key banks, driven the ruble to a file low and left President Vladimir Putin not able to get entry to a lot of his conflict chest of greater than $640 billion. Photographer: Andrey Rudakov/Bloomberg by the use of Getty Photographs

Ukrainian bankers, analysts and economists have joined forces to broaden an inventory of sanctions that experience no longer but been offered, however may just considerably hit Russia and drive Russian dictator Vladimir Putin to retreat.

In fact, those measures may just harm no longer most effective Russians, but additionally the economies of the collective West. However on the finish of the day, cash is simply cash. Now folks’s lives are at stake. We in spite of everything want to come to a decision what the phrase “sanctions” will imply in our civilization. It’s time to choose. Or moderately, Putin left us no selection. If we don’t do what we need to do nowadays, the next day we’ll need to pay a good larger worth.

Right here’s what we expect must be accomplished:

Maximize force by the use of monetary sanctions:

  1. Extend SWIFT blockading and SDN designation to all banking machine.
  2. Complete ban through Visa and MasterCard.
  3. FATF must blacklist each Russia and Belarus.
  4. De-listing of all Russian securities from international inventory exchanges, elimination from all investor indices, disconnecting Russia from international 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 lift budget out of the country.

Extend all current sanctions on Russian officers and oligarchs to their households. Ship youngsters and better halves of sanctioned Russians from EU and US again house. All current property must be confiscated.

Belongings confiscation for all sanctioned Russians in EU and US. This must prolong to cryptocurrency wallets, together with ‘crypto vaults’ in Switzerland.

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Present sanctions checklist to be expanded to all Duma participants (together with long run elected participants), senior executive officers and top-100 oligarchs.

G7 must put force on UAE and different international monetary hubs to verify international compliance with sanctions regime.

No international monetary products and services for Russian and Belarus voters: 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 must be frozen.

No commute and training for Russian and Belarus voters: commute 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 the use of ‘golden passports’: ban long run golden passports, withdraw current ones for sanctioned folks and their households.

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

Block all era transfers to Russia: forestall Western exports of technological apparatus (computer systems, servers, semiconductors, client gadgets), amplify this to Western instrument (no new installations and updates, current licenses to be pulled) and cloud products and services (to be ceased straight away). All products and services equivalent to Google Playmarket, Apple Retailer, Google Maps, Amazon Internet Services and products must be topic to this rule and not to be had in Russia.

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

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

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

Restrict provision of auxiliary products and services which allow huge Russian industries:

  1. Provision of insurance coverage and reinsurance for dangers, freights and vessels.
  2. Auditing through ‘Large 4’ firms.
  3. G7 must put force on ‘tax haven’ nations from opening accounts and registering new firms for Russian beneficiaries.
  4. Use of bearer stocks through Russians must be blocked in EU and Switzerland.

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

Center of attention on very in style freeze of property of Russia sovereign in addition to state owned firms to assist Ukraine get reparations from Russia someday.