If the coming decades are destined to be defined by great power competition between China and the United States across the political, economic, and military domains, the consequences of using sanctions to punish Russia for invading Ukraine must be carefully considered. Undermining America’s position at the center of the global economic system in the twenty-first century might not be worth the cost of punishing a declining twentieth-century rival whose determination to attack Ukraine will likely not be deterred by such measures.

Leaders in Washington, Brussels, Berlin, and beyond will have to wrestle with these difficult questions in the days ahead. They should be under no illusions that economic and financial sanctions are the silver bullet that they may be hoping for.

Dr. Robert Person is an Associate Professor of International Relations at the United States Military Academy at West Point and is a specialist on the foreign and domestic politics of Russia and the post-Soviet states. The views expressed here are those of the author and do not reflect the official policy or position of the U.S. Army, Department of Defense, or United States Government.

Image: Reuters.