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Agreed, it won't work. It won't remove Putin.
But it means that if we have to fight a war with Russia. The Russia we'll be fighting will be poor.
I'm guessing that's the cold logic behind it.
Mind you, sanctions probably aren't at that level yet. Oil and gas still flows.
It'll take years, and it will drag the Russian people into poverty.
Sad, but what's the alternative?
With a little luck this avoids a war. Russians might suffer, but they would also suffer of we fight a war.