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Former US Ambassador to Russia McFaul offers Russian oligarchs way out of sanctions. Putin representatives respond 

22 March, 2023 Wednesday
13:52

Former US Ambassador to Russia, Coordinator of the International Sanctions Working Group Michael McFaul has proposed a way out of sanctions for Russian oligarchs

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He made the statement in his blog.

"Democracies – specifically the four dozen countries in the sanction coalition – should dramatically expand individual sanctions on all Russians in official positions. They should impose sanctions on all members of the Russian government, all members of Putin’s United Russia party and other Russian parties supporting the war, all of Russia’s billionaires, all CEOs and members of boards of state-owned enterprises, and all Putin’s propagandists, including artists who support the war," Michael McFaul wrote.

The diplomat is convinced that restrictions should be imposed on positions, not individuals. This will avoid an unclear procedure for deciding on individual sanctions. Such approach will force influential Russians to choose between resigning from their positions or being sanctioned.

In addition, McFaul proposed a new approach to Russian billionaires who have been sanctioned. They can get out of the sanctions if they publicly condemn the war and Putin personally, donate half of their wealth to rebuild Ukraine, and get rid of their investments in Russia.

McFaul also proposed to introduce an additional tax for Russians to help rebuild Ukraine, which would have to be paid to obtain a tourist visa.

The Kremlin questioned this initiative. According to Putin's spokesman Dmitry Peskov, these proposals are unlikely to be taken up by anyone.

"Big businessmen depend on Russia. Their enterprises operate here, their investments work here in Russia, their business and income also arise here. That's why such proposals are unlikely to be taken seriously by anyone," Peskov said at a briefing.

 
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