Soros: Don’t Freeze Assets of Russian Oligarchs

Fortunately economic sanctions would be a potent deterrent provided they are used judiciously. Freezing the foreign assets of Russian oligarchs is the opposite of smart sanctions. Oligarchs sending their profits and their children abroad weaken the Russian economy. Until now capital flight was more or less offset by foreign direct investment. Effective sanctions would discourage the inflow of funds, whether in the form of direct investments or bank loans.