Opinion: The West must do more to prevent the war in Ukraine from prolonging
As the world began recovering from a global pandemic and a broken supply chain, the bloody conflict between Ukraine and Russia broke out. This war has so far claimed the lives of over two thousand Ukrainian civilians, including children. The million-dollar question still remains: what is the role of the U.S. and its allies to prevent more bloodshed?
The Ukrainians have resisted the Kremlin’s intrusion so far, however, the situation remains dire. The United Nations has estimated that about three million haveUkraine as a result of the Russian invasion. The international community is making preparations to meet their humanitarian needs, but this has not been easy.
Economic pressure and pressure from key Russian oligarchs will be what ends this war. A few oligarchs have already criticized the war, as well as top NHL star and vocal Putin supporter Alexander Ovechkin. Biden’s sanctions have only frozen the assets of several Russian oligarchs this far. However, some of Russia’s richest men including Chelsea FC owner Roman Abramovich have not been sanctioned yet by the Biden Administration .
The second option for President Biden is to end America’s tax treaty with Russia. Russia is one of 58 countries the U.S. has a tax treaty with, and the treaties make it easier and cheaper for businesses to invest in other countries by preventing double taxation in both countries. Under the treaty, any tax an American business pays in Russia gets a tax credit to reduce its U.S. taxes.