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Global Business

Better Sanctions Can Weaken Russia

Yale SOM’s Jeffrey Sonnenfeld, who has helped lead the movement to isolate Russia, and co-author Steven Tian write that the current sanctions regime is spottily enforced and ignores key commodities exports. They suggest three steps policymakers should take to give economic sanctions real bite.

An aerial view of a stack of timber
  • No, the Business Exodus from Russia Was Not a Bonanza for Putin

    Yale SOM’s Jeffrey Sonnenfeld and Steven Tian, with Tymofiy Mylovanov and Nataliia Shapoval of the Kyiv School of Economics, respond to a New York Times articles on the effect of the boycott.

    A former McDonald’s restaurant in Moscow, with a different logo on otherwise similar food and packaging
  • To Prevent a Wider War in the Middle East, Choke Off Iran’s Oil Sales

    Through its proxies, Iran is making aggressive moves against Israel and the U.S. Yale SOM’s Jeffrey Sonnenfeld and Steven Tian write that the U.S. has an option for effective deterrence: cutting off Iran’s oil revenue by strengthening sanctions and imposing a price cap.

    A series of oil pipelines, with oil tanks in the distance
  • The Russian Oil Price Cap Can Work Again

    With oil prices rising, Russia is finding ways around the price cap set earlier this year. But Yale SOM’s Jeffrey Sonnenfeld, who advised on its implementation, writes that with rapid adjustments, the program can continue to hobble Vladimir Putin’s war effort.

    Oil pumps silhouetted against a sunset
  • What Awaits Ukraine Once the War Ends? Prosperity, For One Thing

    Once freed from Russian aggression, Ukraine will thrive, argues Prof. Jeffrey Sonnenfeld.

    Prof. Sonnenfeld visits students at the Kyiv School of Economics
  • Can China Reverse Its Economic Slump?

    Earlier this week, the Chinese central bank unexpectedly cut a key interest rate in an effort to reinvigorate a stalling economy. We asked Yale’s Stephen Roach about the outlook for China and the rest of the world.

    The sun setting over a vast field of shipping containers
  • It’s Time to Disentangle from China

    As the risks of dependence on China become more apparent, a few companies are diversifying their supply chains. But inertia and short-term thinking are keeping many companies tethered to markets and suppliers in the world’s second-largest economy, write Yale SOM’s Jeffrey Sonnenfeld and Steven Tian and investor Kyle Bass.

    The Zhongfu Shenying Carbon Fiber Company in Xining, China
  • With ‘Zero Visibility’ into the Russian Economy, the IMF is Parroting Putin’s Line

    Rather than admitting ignorance, write Yale’s Jeffrey Sonnenfeld, Stephen Roach, and Steven Tian, the IMF is accepting the Kremlin’s statistics—and fueling pessimism about the impact of sanctions.

    Vladimir Putin visiting the Ustianskiy timber complex in Arkhangelsk, Russia, in February. 
  • A Year after the Invasion, the Russian Economy Is Self-Immolating

    Economic pressure and a talent drain are pushing Russia into permanent irrelevance, write Yale SOM’s Jeffrey Sonnenfeld and Steven Tian.

    A vacant commercial building in Moscow on February 10. 
  • The U.S. Has Thwarted Putin’s Energy Blackmail

    Yale SOM’s Jeffrey Sonnenfeld and Steven Tian write that the Biden administration’s balanced approach has helped Europe maintain its natural gas supply while protecting U.S. interests.

    The Enagas regasification plant at Barcelona’s Liquefied Natural Gas (LNG) terminal. 
  • What’s the Future for Western Businesses in Xi’s China?

    We asked Stephen Roach, a senior fellow at Yale Law School’s Paul Tsai China Center, what another five years of Xi Jinping’s leadership means for China’s economic policies and the environment for Western businesses there.

    President Xi Jinping walking through a row of Chinese Communist Party officials.