For Russia, potential new U.S. and U.K. sanctions targeting its economic interests would be seen as a significant escalation and compel a range of responses, calibrated according to the perceived aggressiveness of London and Washington’s actions. On March 4, Bloomberg reported that U.S. and U.K. officials are considering additional sanctions against Russia over the poisoning and subsequent jailing of opposition leader Alexei Navalny. Although officials have refused to comment publicly, the options on the table reportedly include sanctioning Russian business elites and imposing restrictions on trading Russia’s sovereign debt. Between these two options, the latter would likely be a last resort, while the former is more likely in the near term....
