James Meadway returns to PTO to talk about his recent article on the economic sanctions imposed on Russia in response to the Putin regime's invasion of Ukraine. We discussed the special significance of targeting the Russian central bank, and the likely consequences for the Russian economy. We also talked about the extraordinary dangerousness of the situation, given the raising of the alert status of Russia's nuclear forces, and the apparent absence of any face-saving way in which Vladimir Putin could deescalate. We also discussed China's gradual distancing from Russia since the start of the invasion.
