Sanctions

The 2020s appear to be a never-ending parade of global groupthink. The Russian Oil Price Cap is yet another stupid and self-destructive idea that should have been suffocated at birth. It cannot possibly achieve what its supporters claim, and it represents emotional value signalling from the Big Hug Club rather than any semblance of rational thought.

Since 2018 Russia has had an alternative payment clause in its Eurobond contracts that allows it to pay principal and interest in Roubles

Electronic impulses on computers only stop tanks in Call of Duty. War is not a game, and stopping it will require rather more than attempts at financial alchemy