Sanctions!
That's how the US and NATO are responding to Putin's entry into the Ukraine and note there is only one red box in the area we're paying attention to but many, many red boxes now surrounding the country. We tried scantions in 2014, when Russia invaded Crimea and, guess what? They are still there!
So, since sanctions had zero effect last time and this time Putin has had 8 years to prepare for more sanctions – it's kind of a useless, futile effort on the part of the Allied forces. Literally the LEAST we could possibly do to pretend we are responding. According to a White House Press Release:
"Treasury is targeting Russia’s ability to finance aggression against its neighbors by sanctioning the Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank (VEB) and Promsvyazbank Public Joint Stock Company (PSB), along with 42 of their subsidiaries. VEB is crucial to Russia’s ability to raise funds, and PSB is critical to Russia's defense sector. These sanctions ensure VEB and PSB can no longer do business in the United States and are cut off from the U.S. financial system. All assets under U.S. jurisdiction will be immediately frozen and U.S. individuals and entities are prohibited from doing business with these institutions unless authorized by OFAC. This will immediately impair the ability of VEB and PSB to perform basic functions in the international financial system. Today’s action constrains Russia’s ability to finance defense-related contracts and raise new funds to finance its campaign against Ukraine. Treasury is also designating influential Russians and their family members in Putin’s inner circle believed to be participating in the Russian regime’s kleptocracy, including the Chairman and CEO of PSB."
Yes, that's it. That is how we are responding to Russia invading a neighboring country – we send Janet Yellen out to attack Putin. Fortunately for Yellen, Putin is only 5 foot 7 but he's still got 4 inches on Yellen at 5 foot 3 and yes, US foreign policy is now so stupid that we may as well compare height and age (Putin is 6 years younger at 69) but, of course,…
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