Sanctions, Oligarchs, and the War in Ukraine

"One month ago, Russian forces launched a full-scale invasion of Ukraine. Putin’s army has mercilessly targeted civilian areas, including apartment blocs, hospitals, and civilian shelters. The war crimes of Putin's regime are clear to all, as millions of refugees flee the conflict and thousands perish. In response to Putin’s murderous behavior, the United States and other democracies have imposed sanctions on Russia, targeting the Russian banking sector, Russian exports, and over 100 individuals, including some of Putin’s closest oligarch allies. However, these sanctions did not target the most important segment of the Russian economy — the export of oil and gas. They also did not address a deeper problem, which is the ability of Russian oligarchs to hide their money in the West. This week, we examine how oligarchs conduct business in the West, the impact of Western sanctions on Russia, and the types of reforms and sanctions democracies need to implement to change Putin’s behavior. On this week’s episode of Dissidents & Dictators, we have three guests. Casey Michel is an investigative journalist and the author of American Kleptocracy, which studies how the United States has become a haven for stolen wealth. Bill Browder is the CEO Hermitage Capital, and the Head of the Global Magnitsky Justice campaign. Hagar Chemali is a professor at Columbia University and a former official at the Treasury Department’s Office of Terrorist Financing and Financial Crimes."