The sanctions imposed against Russia have so far targeted specific spheres, for instance, Russian banks and companies have had access restricted to EU's primary and secondary markets, there are bans on certain exports and import, as well as arms embargos and a ban on the export of military dual use goods. The sanctions have also hindered Russia's access to individual sensitive technologies that are used for oil extraction and research. There are also special restrictions on economic relations with Crimea and Sevastopol, including a ban on imports from the peninsula, a ban on the export of particular goods and technology, investment restrictions and prohibition of providing tourism services in the region. The measures implemented regarding economic cooperation have put a halt to any new financial operations in Russia from the European Investment Bank and the European Bank for Reconstruction and Development.
By December 2020, the EU's individual restrictive measures - a travel ban and asset freeze - targeted 177 persons and 48 entities due to their actions of undermining Ukraine's territorial integrity, sovereignty and independence. In October 2020, the list was expanded to include two persons and four entities that took part in the construction of the Kerch bridge linking Russia and Crimea.7
There is no doubt that additional individuals should be included in the list of sanctions, but I believe it would be more effective to target specific spheres.
Only this way we can force Putin's Russia to review its "bully" approach.
Another indication that the sanctions are more worrying than the Kremlin tries to present are the official statements coming from the Kremlin itself. If the Kremlin wouldn't be worried about something, it wouldn't waste time talking about it. Keep in mind that Putin's Russia doesn't care the slightest about what others think. This means that if the Kremlin is actively talking about lifting the sanctions because of one reason or another, it's a clear signal that Putin is desperate to fix the situation.
Undoubtedly, sanctions affect the regular people as well. Unfortunately, there are no other options than to strengthen the sanctions against Russia in hopes that it would lead to the elimination of the main reason they were imposed in the first place, i.e. Putin's regime would finally be replaced.
3https://www.kommersant.ru/doc/4605277
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