It's not just seizing yachts and mansions: The West is using a 3-pronged approach to punish Russia
, a nonprofit US think tank. They're a common tactic for preventing an all-out war from breaking out.
This time, they're part of retaliation against Russian President Vladimir Putin after Russia invaded Ukraine. A month after the invasion began, the Russian economy is now atThat's because the US, UK, and European Union are pulling out all three types of sanctions. Daniel Gielchinsky, an attorney at DGIM Law, PLLC in Aventura, Florida, who specializes in commercial litigation and finance law broke them down for Insider.
"If you kick a member nation out of SWIFT, you're basically telling them you cannot participate in international trade," Gielchinsky said, adding that it's the first time in history that a group of governments has done this."Russia has basically been ostracized from the international economy." The US also froze $630 billion in assets held by the Russian Central Bank, preventing the country from using that pile of international reserves to finance its attack on Ukraine or prop up the economy. Such sanctions are unheard of, escalating the economic punishment against Russia.Because this tier of sanctions involves severing ties with certain types of businesses and industries, they're kind of a subset of a sanction against the government, Gielchinsky said.
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