Strengthening of sanctions against the Russian Federation
We have convened a task force of independent international experts to recommend further economic and other measures to pressure Russian President Vladimir Putin to end his invasion of Ukraine as soon as possible and restore integrity territory of Ukraine within its internationally recognized borders. Our task force aims to provide its expertise and experience to governments and companies around the world by helping to formulate sanctions proposals that will increase the cost to Russia of invading Ukraine and to support Ukraine democracy in the defense of its territorial integrity and national sovereignty.
Our group applauds the actions taken by dozens of governments around the world to sanction Russian companies and individuals, implement export controls to Russia on critical technologies, and pressure private companies to they stop doing business in Russia. We also welcome the steps taken independently by private companies around the world to stop trading, investing and doing business in and with Russia. We welcome the steps taken by multilateral financial institutions to suspend their activities with Russian partners. At the same time, we believe that more – much more – can be done to urgently increase the pressure on Putin to withdraw his army from Ukraine. We stand with Ukraine in an attempt to stop the flow of revenue that underpins Russia’s brutal war and atrocities against civilians.
While seeking input and coordination with many government officials – including the Ukrainian government – as well as private companies, all members of our working group participate in an individual capacity. We are united in the belief that sanctions against Russia must be extended as soon as possible until Putin withdraws Russian armed forces from Ukraine. Some now argue that there is nothing more that can be done about economic pressure on Russia; our working group radically disagrees. Finally, we recognize that enhanced sanctions, which impede revenue flows and increase the cost of this war, are no substitute for military and humanitarian assistance, diplomacy or other instruments of foreign policy which should be separately discussed and pursued. . We focus here on just one aspect of the larger international strategy needed to help end this horrible war.