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Opinion
Tyler Cowen

Decentralized Warfare Favors Ukraine

Can boycotts in the U.S., bank runs in Moscow and videos on Twitter really help Ukraine? More than you might think.

Russia's central bank: Where the war could be won or lost.

Russia's central bank: Where the war could be won or lost.

Photographer: Andrey Rudakov/Bloomberg

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Wartime reporting typically focuses on troops in combat, civilians in the crossfire or, sometimes, the effect of sanctions. But behind the scenes more decentralized mechanisms are exerting their influence, often based on economic logic. These forces are mostly working against Russia and for Ukraine.

Consider the economic and financial sanctions announced against Russia. Some Russian banks are being cut off from the SWIFT international payments network, while the foreign assets of the Russian central bank are being frozen.