More Western sanctions target Russia over Ukraine

Sanctions targeting key members of Putin’s inner circle are having an effect – but not necessarily the one intended

At the end of April, the West unveiled a further round of sanctions on Russia over its meddling in Ukraine that, by targeting individuals close to the regime rather than the country itself, it hopes will change the Kremlin’s behaviour without hurting western investments or its trade with Russia, particularly in energy. However, with the crisis in Ukraine only deepening, harsher sectoral sanctions are in the pipeline. Like the first round of sanctions imposed on Russia in March, this latest round, released on 28 April by the US and subsequently by Canada, the EU and Japan, were applied to Russian individuals close to President Vladimir Putin as well as connected companies, rather than aimed a