How to punish Russia and make billions: American economists have proposed a new mechanism for ending the war

American economists Glenn Hubbard and Katherine Wolfram propose the introduction of the so-called “Russian universal tariff”, a mechanism of economic pressure that involves the introduction of secondary sanctions against companies and people involved in the sale of Russian oil and gas. Russia could avoid these sanctions by paying a special fee to the US Treasury, which would gradually increase until Moscow agrees to a peace agreement with Ukrain…