The New York Times: “How to Punish Russia, Make Money, and End the War”
RFF board members Glenn Hubbard and Catherine Wolfram are coauthors of this New York Times guest essay.
"Fortunately, there is a simple way to improve the American hand. The administration should impose sanctions on any company or individual—in any country—involved in a Russian oil and gas sale. Russia could avoid these so-called secondary sanctions by paying a per shipment fee to the United States Treasury. The payment would be called a Russian universal tariff, and it would start low but increase every week that passes without a peace deal...
Ideally, the policy would pressure Russia into negotiations, where its removal could be part of a deal. If not, the United States would still collect billions annually, which could help fund Mr. Trump’s proposed tax cuts. In that scenario, Russia would effectively be helping repay the U.S. tax dollars used to provide aid to Ukraine to defend itself against Russia’s assault.”
