West must sanction Putin's income to stop war in Ukraine: Bill Browder
Zelenksyy delivered a 'critical message' on sanctioning Russia during World Economic Forum speech in Davos, Switzerland, Browder said
Hermitage Capital CEO Bill Browder praises Zelenskyy’s call to introduce maximum sanctions on Russian oil and trade at the World Economic Forum in Davos.
Hermitage Capital CEO Bill Browder argued on "Mornings with Maria" Tuesday that Western nations have to focus on income-related sanctions to prevent funding Putin's billion-dollar war against Ukraine. Browder shared insight from discussions at the 2022 World Economic Forum in Davos, Switzerland after Ukrainian President Zelenksyy called for "maximum sanctions" during a virtual speech on Monday.
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BILL BROWDER: Well, because we're in a situation right now where every dollar that goes to Putin is a dollar that he's spending killing Ukrainians. And we have done some good work sanctioning the assets of Russia. We've gone after about $350 billion of central bank reserves. We've gone after a bunch of oligarchs, which has been very successful, but we haven't sanctioned the income, the money that flows in on a daily basis. And that money is as of the order of magnitude of $1,000,000,000 a day. And that's about the amount of money that he's spending on his war effort, $1,000,000,000 a day. And so he could carry on for a very long time, killing Ukrainians, causing terrible hardship if nothing is done to stop that.
Hermitage Capital CEO Bill Browder told FOX Business that Ukraine President Zelenksyy delivered a "critical message" on sanctioning Russia during his virtual speech at the World Economic Forum in Davos, Switzerland. (Mikhail Klimentyev, Sputnik, Krem … (AP / AP Images)
And President Zelenskyy is exactly right, which is the way to stop that is by stopping the purchase of Russian oil and gas and making sure that no other money flows in. And so it's a crucial message I think that everyone understands is necessary. But there's a lot of people here in Europe, and particularly the Germans, Italians and others, that they don't really want to change their lives, and they have to find other sources of energy because that may cause them economic problems in the short term.
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Hermitage Capital CEO Bill Browder unpacks Putin’s ‘tight totalitarian ship’ amid calls for increased sanctions on Russia at the World Economic Forum.