Comment by ogogmad
5 years ago
From https://www.politico.com/news/magazine/2022/02/28/world-war-... - targeted sanctions are not enough, because an autocratic leader can use his whole country as his bank account.
Reynolds: I gather you think that sanctions leveled by the government are inadequate to address this much larger threat?
Hill: Absolutely. Sanctions are not going to be enough. You need to have a major international response, where governments decide on their own accord that they can’t do business with Russia for a period of time until this is resolved. We need a temporary suspension of business activity with Russia. Just as we wouldn’t be having a full-blown diplomatic negotiation for anything but a ceasefire and withdrawal while Ukraine is still being actively invaded, so it’s the same thing with business. Right now you’re fueling the invasion of Ukraine. So what we need is a suspension of business activity with Russia until Moscow ceases hostilities and withdraws its troops.
Reynolds: So ordinary companies…
Hill: Ordinary companies should make a decision. This is the epitome of “ESG” that companies are saying is their priority right now — upholding standards of good Environmental, Social and Corporate Governance. Just like people didn’t want their money invested in South Africa during apartheid, do you really want to have your money invested in Russia during Russia’s brutal invasion and subjugation and carving up of Ukraine?
It's more nuanced than that. One should do business with people who are against the regime. If you stop doing business with them - those people will have to do anything to survive including being more dependent on regime's assistance, developing dependency and loosing even more of their free agency.
This is also why sanctions are targeted - you need a carrot and a stick.