Leaders | Dodged penalties
Why the West’s oil sanctions on Russia are proving to be underwhelming
Another embargo comes into force on February 5th. Manage your expectations

This article appeared in the Leaders section of the print edition under the headline “Dodged penalties”
Leaders
February 4th 2023- Joe Biden’s effort to remake the economy is ambitious, risky—and selfish
- Nagging questions over the Adani empire won’t go away
- The Bank of Japan should stop defending its cap on bond yields
- Why the West’s oil sanctions on Russia are proving to be underwhelming
- Peru needs an early election and outside support, not interference

From the February 4th 2023 edition
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A fantastic start for Friedrich Merz
The incoming chancellor signals massive increases in defence and infrastructure spending

The lesson from Trump’s Ukrainian weapons freeze
And the grim choice facing Volodymyr Zelensky
Western leaders must seize the moment to make Europe safe
As they meet in London, Vladimir Putin will sense weakness
Prabowo Subianto takes a chainsaw to Indonesia’s budget
The result? More money for the president’s boondoggles
Inheriting is becoming nearly as important as working
More wealth means more money for baby-boomers to pass on. That is dangerous for capitalism and society
Donald Trump has begun a mafia-like struggle for global power
But the new rules do not suit America