The journalist, Inozemtsev, argues that laws should apply equally to everyone without any exceptions. For instance, he believes that it would be inconsistent to exclude some Russian banks from the international payment system as it would unfairly benefit other banks, including Western ones. This action would lead to these banks doing more business and continuing to pay taxes that finance the war efforts.
Inozemtsev suggests that supporting the outflow of important resources like money and skilled workers would be more effective in damaging the Russian economy than focusing solely on oligarchs. He argues that targeting a large part of the population through measures like restricting imports of brewing hops or blocking access to Russia via Western companies like smartphone manufacturers would be more productive. According to him, export controls are not as efficient as they can easily be bypassed through third countries.
Furthermore, Inozemtsev highlights the issue of some measures contradicting constitutional principles such as punishing individuals for past business dealings with the Russian regime. This inconsistency undermines the credibility of the West, particularly in the global South, making it harder to advocate for universal adherence to rules. He also points out growing influence of China in Russia due to Western sanctions affecting both Russian energy exports and Chinese goods marketed under Russian brand names.
Regarding price cap on Russian oil, Inozemtsev explains that while production costs were assumed at $50 per barrel, companies’ actual costs are lower. Setting a price cap at $60 means that Russia would continue bringing oil to market but earn less from it as state taxes are already included in those costs. This has resulted in state-owned energy companies like Gazprom experiencing losses in recent years despite their continued operations.
In conclusion, Inozemtsev advocates for equal application of laws without any exceptions and believes that supporting outflow of important resources and targeting a large part of population through measures would be more effective in damaging the Russian economy than focusing solely on oligarchs. He also highlights issues with inconsistent measures contradicting constitutional principles and growing influence of China due to Western sanctions affecting both Russian energy exports and Chinese goods marketed under Russian brand names. Finally, he explains how setting price cap on Russian oil at $60 means Russia would bring oil to market but earn less from it due to state taxes already included in $50 costs resulting in loss for state-owned energy companies such as Gazprom despite their continued operations.
