Renowned American economists Glenn Hubbard and Katherine Wolfram have offered US President Donald Trump their own plan to end the war of aggression that Russia has been waging against Ukraine for over 11 years. They also explained how the United States can make money in the process of implementing it.
Points of attention
- By hitting all participants in the oil transactions, including tanker owners and insurers, the plan puts pressure on Putin to come to the negotiating table.
- Experts believe that this strategy could force Putin to end the war of aggression against Ukraine and bring about a resolution to the conflict.
How to get Putin to end the war
American economists have suggested that Trump impose sanctions against anyone involved in the sale of Russian oil and gas in any country.
To avoid this, the aggressor country would have to pay duties on each delivery — this would become a universal Russian duty.
It would start low and escalate with each passing week without a peace agreement, Glenn Hubbard and Katherine Wolfram emphasize.
According to them, if Russia does not want to pay, secondary sanctions will hit all participants in the transaction, including oil tanker owners, insurers, and buyers.
Economists point out that the described scheme would provide the US with money, unlike the agreement on Ukrainian minerals — we are talking about about $120 million daily.
The goal is to keep Russian oil flowing to world markets, but with less money flowing to the Kremlin. This plan would undermine Russia’s ability to continue waging war, while also filling U.S. coffers, experts say.
Glenn Hubbard and Katherine Wolfram believe their plan will eventually force dictator Putin to the negotiating table.
