Graffiti depicting a serviceman and his tank on a building in Krasnogorsk, Russia, pictured on August 20, 2024. Getty Images London —

Three and a half years since Russia’s full-scale invasion of Ukraine, with a US-led peace process on ice and a stalemate on the battlefield, Kyiv’s allies are calling for renewed economic pressure on Moscow. The aim: to raise the cost of war for the Kremlin to a level that forces it to change course.

Eighteen packages of European Union sanctions and dozens more from the United States, United Kingdom and others have weakened Russia’s economy – but not its resolve to carry on fighting.

What’s needed, then, is not just more but smarter penalties, experts say.

“We just need to be cleverer,” said Timothy Ash, a Russia researcher at the UK-based Chatham

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