First, the United States and European Union should greatly expand the list of individual Russians—inside and outside of government—targeted for visa and financial sanctions. Sanctions should apply to family members as well.
Second, the West should sanction key parts of the Russian economy, beginning with its financial sector. It should target at least several Russian financial institutions. The European Union, particularly Britain, must join in, with the aim of halting international credit to Russian entities. That would further stress the slowing Russian economy.
Third, the United States and European Union should block their energy companies from new investments to develop oil and gas fields in Russia. With Moscow dependent on oil and gas sales for seventy percent of its export earnings, such a measure would send shudders through the Russian energy sector.
Three wise men with three options
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