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Economic Tools to Use Against Putin
There seems to be an acceptance that little can be done to deter Russian President Vladimir Putin from fully invading Ukraine if he chooses, because while Russia may be willing to go to war over the country, the U.S. and Europe are not. This fatalism is misplaced. The world is knit together in ways that it wasn’t during the Cold War. Russia, which is dependent on oil and gas exports for about half of its government revenues, and is by now well-integrated into international finance systems, is very much a part of the global network. So the question is not whether the West has tools short of war that it can use to ... (full story)