Sanctions against Russia have been unprecedented in speed, the scale of targets, and international cooperation.
But they are NOT comprehensive. They remain a 7/10 or 8/10 in intensity, not a 10/10.
A few myths that require correcting (🧵):
But they are NOT comprehensive. They remain a 7/10 or 8/10 in intensity, not a 10/10.
A few myths that require correcting (🧵):
(1) Not all Russian banks have been cut off from SWIFT. In fact, the EU has cut off just 7 Russian banks from SWIFT. Of the 5 largest Russian banks, just one (VTB) is banned from SWIFT. Sberbank, which is by far Russia's largest bank, retains access to SWIFT. 
(2) No, "self-sanctioning" has not devastated Russia's oil sales. Russian oil is still finding buyers. To truly curb Russia's oil sales, Europe will need to reduce its own imports, and the US & EU will need to launch a global secondary sanctions campaign.
https://twitter.com/RobinBrooksIIF/status/1508723578262286339
(3) It is only partially true that the effects of sanctions "worsen over time." Yes, sanctions will curtail Russia's economic & technological development. But sanctions-induced financial panic is already abating. Keeping up pressure requires ⬆️ sanctions.
https://twitter.com/elinaribakova/status/1508762213510701061
(4) It is misleading to call Russia the "world's most-sanctioned country." Tallying up individual targets is meaningless. The right question is: How comprehensive are restrictions? Iran and North Korea remain far more economically isolated than Russia is. washingtonpost.com/world/2022/03/…
(5) Don't get me wrong: the sanctions campaign has been impressive. The US and Europe have shown remarkable solidarity and resolve.
But now is not the time to rest on our laurels. Ukrainians remain under heavy fire. The West needs to step up the pressure. /end
But now is not the time to rest on our laurels. Ukrainians remain under heavy fire. The West needs to step up the pressure. /end
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