Ukraine becomes increasingly brutal, with Russian attacks killing and displacing civilians, experts say the international community is shifting its focus from sanctions to helping the Ukrainian military.That’s partly because the few remaining options that could have a significant impact on Russia’s economy — namely, a European ban on Russian oil and gas — are not feasible in the short term.
It’s also becoming clearer that the sanctions, while devastating, are not swaying Russian President Vladimir Putin.“It’s not hurting (Russia) enough to make them stop,” said James Brander, a professor in international business and public policy at the University of British Columbia’s Sauder School of Business.“It’s hard to get to that level, whereas what’s really hurting the Russians right now is on the ground in Ukraine, where they’re running into a lot of military trouble.
So I agree that helping the Ukrainians on that front is the best short-term strategy.”NATO leaders, including Prime Minister Justin Trudeau and U.S.
President Joe Biden, are set to meet for an extraordinary summit in Brussels next Thursday to discuss their response to the Russian invasion of Ukraine.The allies, along with other leading economies like Japan and Australia, have already pummelled Russia with harsh financial sanctions targeting the economy and key government officials, including Putin.