Overview

An in-depth, authoritative, and timely look at the unprecedented economic war the US and its European allies are waging against Russia after Putin's invasion of Ukraine--written by a veteran journalist with unparalleled access to Western and Russian sources. Undeterred by eight years of timid US sanctions, Vladimir Putin ordered his full-scale assault on Ukraine on February 24, 2022. In the hours that followed across the world, Western leaders weaponized economic tools to counter an unprecedented land grab by a nuclear-armed power. What followed was an undeniably world-changing financial experiment that risked throwing the world into a devastating recession. The end goal was simple: to sap the strength of Putin's war machine and damage the Russian economy--once the eleventh largest on the planet. Here, Russian expert and veteran journalist Stephanie Baker explains in fascinating detail how this furious shadow-war unfolded: its causes, how it is being executed, and its ability to affect Russia and the course of history. From seizing superyachts to manipulating the global price of oil to trying to block the sale of military technology to Russia, we learn how the White House coordinated with top officials in London and Brussels to freeze a staggering $300 billion in foreign currency reserves accumulated in the West by Russia's central bank. Mobilizing an army of white collar-crime investigators and experts on international law, Baker explores how the West has cracked down on illicit Russian money by targeting oligarchs, one superyacht at a time, and their enablers around the world. Filled with propulsive, fly-on-the-wall details, Punishing Putin takes us into the frantic backroom deliberations that led to a whole new era of carefully calculated ""economic statecraft"" and shows how these new strategies are already radically rearranging global alliances that will influence the world order today, and for generations to come.

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9781668050583

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Reviews

"""The riveting inside story of the unprecedented economic war to take down Putin and save Ukraine. Anyone wishing to understand the complexity and difficulty of battling Putin on the global economic stage will find Stephanie Baker's expos� an essential read."" --Bill Browder, bestselling author of Red Notice and Freezing Order ""Stephanie Baker has produced a definitive account of the war behind the war--the desperate struggle to restrain Russia's violence through economic sanctions. Few reporters understand post-Soviet Russia the way Baker does, and it shows. But this is a story that resounds beyond Eastern Europe. She argues persuasively that economic warfare is a crucial part of the modern arsenal, and that the lessons of Ukraine will shape future conflicts. Those who assume that sanctions were a one-off failure should look more closely at this detailed, engrossing account, narrated by the key players themselves."" --Peter S. Canellos, author of The Great Dissenter"

Author Information

Stephanie Baker is an award-winning investigative reporter at Bloomberg News. She began her reporting career in Moscow during the 1990s, a volatile period that set Russia on its path today. She received her master's degree at the London School of Economics and her work has been recognized by the Gerald Loeb Awards, the Overseas Press Club, the UK Society of Editors, the Society for Advancing Business Editing and Writing, and the UK's Foreign Press Association.

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