Russia invading Ukraine should cause other countries to impose ‘real devastating costs’ on Putin: Bill Browder
The Hermitage Capital Management CEO argues ‘we need to go after his money’
Bill Browder, the founder and CEO of Hermitage Capital Management, an investment fund and asset management company with experience in Russian markets, outlines what he believes will stop Russian President Vladimir Putin from further escalation.
Bill Browder, the founder and CEO of Hermitage Capital Management, an investment fund and asset management company with experience investing in Russian markets, argued on Thursday that Russia invading Ukraine is the "worst possible scenario we could have imagined" and that now the United States, United Kingdom, European Union, Australia and Canada must "go after" Vladimir Putin's money.
Browder told "Mornings with Maria" that the countries should impose "real devastating costs" on the Russian President "for doing what he’s done" and the way to do that is to "to go after his money."
He then told host Maria Bartiromo that the way to go after his money is to "go after the 50 or so oligarchs who hold his money in the west and freeze that money."
Browder noted when he testified in front of the Senate Judiciary Committee five years ago he said that Putin is worth $200 billion, noting that he is confident that the Russian president’s net worth is much more now.
He then stressed that "the one thing we can do without a single drop of American blood, is to freeze his assets and the way we can freeze his assets is by going after the people who hold those assets, who are these Russian oligarchs and we know who they are."
Sen. Marsha Blackburn, R-Tenn., argues Russia invading Ukraine is 'what you get' when President Biden displays 'weakness' and says she hopes Biden will 'step up and be very firm' with sanctions.
"The United States and our allies can freeze the assets and that’s something that is targeted, goes after Putin directly and will make him a bear a real personal price for what he has done," Browder added.
The asset manager provided the insight shortly before the Ukrainian Defense Ministry confirmed a Ukrainian transport plane was shot down, killing five soldiers. At least 40 Ukrainian military members are believed to have died as Russia continues to invade the country. Those death estimates are expected to rise.
RUSSIA INVADES UKRAINE: LIVE UPDATES
Browder also argued on Thursday that he believes "at this point, it justifies cutting Russia off from the swift international banking system."
"That’s what we did with Iran, that put them back to the stone ages economically and that’s what ultimately forced them back to the negotiating table. That’s what has to be done with Vladimir Putin right now," he continued.
Bill Browder, the founder and CEO of Hermitage Capital Management, an investment fund and asset management company with experience in Russian markets, argues the U.S., U.K., Australia and Canada must 'go after' Vladimir Putin's money.
"If we do not impose devastating economic costs on him, then the next stop is going to be NATO countries that he is going to challenge to see whether we are ready to stand up for our NATO allies and we need to show him well before that there is real punishment coming from what he has done."
President Biden condemned Putin after the country carried out military operations in Ukraine Wednesday evening (Thursday morning local time).
"The world will hold Russia accountable," Biden said in a pair of tweets Wednesday, moments after Russia carried out the military action.
"President Putin’s actions demand a firm response. That’s why we’re imposing full blocking sanctions on VEB and Russia’s military bank, cutting off Russia from western financing, imposing sanctions on elites, and more," Biden added in another tweet. "We will continue to escalate sanctions if Russia escalates."
The U.S. president also called on international allies to respond.
In a separate tweet Biden said that on Thursday he will be meeting with the Leaders of the G7 and that "the United States and our Allies and partners will be imposing severe sanctions on Russia."
Browder told Bartiromo on Thursday that "Putin has crossed the Rubicon by invading Ukraine, a full-scale military invasion, he has crossed over into an area that nobody ever expected, wanted or knows what to do with, and now he’s on a roll."
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He warned that Putin is "now going to test out every bit of resolve from us to see where we stand and I think it’s quite likely that the next stop after Ukraine is some NATO country to see whether we all are all for one, and one for all, which is the NATO promise."
Browder went on to argue that Putin "wants to see whether that is real or not" because if the Russian president "can split up NATO, then he can basically do whatever he wants."
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Fox News’ Stephen Sorace contributed to this report.