As russia’s war against Ukraine enters a third year, lawmakers in Washington are arguing over whether to continue sending military aid. America has fewer doubts about its financial campaign against Vladimir Putin. Having targeted Russian entities, it is threatening “secondary sanctions” on their foreign abettors. In December the White House said it would put the dollar system out of bounds for any bank helping Russia gain access to sensitive goods. After the prison-murder of Alexei Navalny, Russia’s main opposition leader, it was due to announce fresh sanctions on February 23rd. Two days earlier the European Union agreed on its 13th round of sanctions against Russia, which also target Chinese firms found to be helping Mr Putin’s war effort. The trouble is, sanctions are not working well.
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