Trump sanctions on Russia hit Putin ‘right between the eyes’: Bill Browder

The economic sanctions that the Trump administration levied on Russia are unparalleled, according to Hermitage Capital CEO Bill Browder.

“The most recent sanctions – and these are the sanctions against the Russian oligarchs, against the tycoons they put in place about a month ago – were like a neutron bomb going off over Moscow,” Browder told FOX Business’ Liz Claman during an interview on Wednesday. “These sanctions truly hit Putin right between the eye.”

In early April, the Treasury Department announced additional sanctions against seven Russian oligarchs and 17 Russian government officials for “malign activity” around the world, including support for Syrian President Bashar al-Assad and actions in Crimea and eastern Ukraine.

Earlier this year, the Trump administration penalized Moscow by slapping sanctions on 19 Russian individuals and five Russian entities for allegedly interfering in the 2016 presidential election and engaging in cyberattacks.

Some have seen President Vladimir Putin’s decision to bring former Finance Minister Alexei Kudrin back into the fold as a signal the sanctions are hitting the country hard. If appointed, he would be in charge of economic strategy and outreach to Europe and the U.S., which could suggest the Russians are willing to compromise, according to the Financial Times.

“I’ve been pounding the table for 10 years trying to get the oligarchs to be sanctioned, and it finally happened a month ago,” Browder said. “All previous actions of any administration against Russia haven’t been very effective until this last set of sanctions.”

And it’s possible the sanctions are taking effect: In 2017, Russian military spending fell for the first time since 1998, dropping nearly 20% lower. Some have attributed that to economic problems spurred by U.S. financial penalties, according to the Stockholm International Peace Research Institute.

“I think [Putin] needs to stop attacking the West, and then hopefully the economy will stabilize,” Browder said.