The American-English fund manager and political activist, Bill Browder gives a very prescient answer when questioned on Russian sanctions. Bill Browder is an expert on Russia having built a portfolio of investments there before he was exiled from Russia by Vladimir Putin. His lawyer, Sergei Magnitsky was framed and murdered by the Russia security services, and this led Browder to lobby for the Magnitsky Act that was signed by President Barack Obama in 2012 and sanctioned Russian politicians and officials involved in Sergei Magnitsky’s murder. The European Union followed suit with similar sanctions in 2014.
Bill Browder argues for the complete ban of Russian oil for the full effect of sanctions to take place. Russia’s Central Bank has recently stated that further import restrictions to Russia would cause higher inflation. Russia has mitigated sanctions on it by selling its oil through a shadow fleet and diverting imports through Central Asian countries, Turkey, the United Arab Emirates and even Serbia and Armenia. Diverting import routes paired with a weakening currency has caused higher inflation in Russia for many goods and services, but oil sales are still providing it with a lifeline for its war efforts.
Leave a ReplyCancel reply