An opinion piece in The Washington Post Thursday, entitled "It’s time to go after Vladimir Putin’s money in the West," details what the United States could do that would have a significant impact on Russia.
Anders Aslund, a senior fellow at the Atlantic Council – a think tank focused on international affairs – writes the following:
Russia’s economic means are limited. Therefore, the Kremlin prefers cheap asymmetric or hybrid warfare, such as the hacking of elections, cyberwarfare, manipulation of social media and the corruption of foreign politicians. We need to respond asymmetrically, hurting the Kremlin more than it hurts us.
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Putin and his friends have not accumulated their vast fortunes to consume them, but rather, to maintain power in Russia. The irony is that having undermined property rights in Russia, they — like other Russians — can only safeguard their savings abroad in countries that enjoy the rule of law, allow anonymous ownership and have sufficient financial depth for their vast fortunes.
Twenty-nine countries, including most E.U. countries, already demand full disclosure of beneficiary owners, and 11 others have agreed to do so, too. They have all come to the same conclusion: Anonymous ownership has become a major threat to national security. Prime Minister David Cameron promised to demand full disclosure in May 2016, but he resigned two months later, and his successor, May, has shown no interest in doing so even after the nerve-agent attack in Salisbury.
The United States needs to catch up ...
Read the full opinion piece: It’s time to go after Vladimir Putin’s money in the West