Punishing Putin

Inside the Global Economic War to Bring Down Russia

By: Stephanie Baker

Narrated by: Jennifer Jill Araya

A “masterful” (Foreign Policy), authoritative, and timely look at the unprecedented economic war the United States and its European allies are waging against Russia after Vladimir Putin’s invasion of Ukraine that “reads like a detective novel” (Nassim Nicholas Taleb)—written by a veteran journalist with unparalleled access to Western and Russian sources.

Undeterred by eight years of timid US sanctions, Vladimir Putin ordered his full-scale assault on Ukraine on February 24, 2022. In the hours that followed, Western leaders weaponized economic tools to counter an unprecedented land grab by a nuclear-armed power. What unfolded was an undeniably world-changing financial experiment that risked throwing the globe into a devastating recession. The end goal was simple: to sap the strength of Putin’s war machine and damage the Russian economy—once the eleventh largest on the planet. Here, veteran journalist Stephanie Baker explains in fascinating detail how this furious shadow war unfolded: its causes, how it is being executed, and its ability to affect Russia and the course of history.

Punishing Putin reveals how Washington, Brussels, and London moved to seize superyachts, attempted to manipulate the global price of oil, and tried to block the sale of technology to Russia’s military. The cost of the war mounted, and Baker tells the behind-the-scenes story of the decision to immobilize $300 billion in Russian central bank reserves accumulated in the West, and the fight over whether to use that pot of money for war-torn Ukraine. Baker also shows that the West, by mobilizing an army of white-collar investigators and experts on international law, has finally begun cracking down on illicit Russian money by targeting oligarchs, one superyacht at a time, and their enablers around the world.

Filled with propulsive, fly-on-the-wall details, Punishing Putin takes us into the frantic backroom deliberations that led to a whole new era of carefully calculated “economic statecraft,” and shows how these new strategies are radically rearranging global alliances that will influence the world order today and for generations to come.

Interesting in-depth storytelling

Baker’s investigative approach, chasing down key pieces of this story from Nashua, NH to the Middle East was remarkable. Really interesting in-depth storytelling.

Her research paid off

We assume the West has a big "sanctions lever" that can be easily pulled. This thoroughly researched book reveals that it's not that simple, or effective. In fact it's complicated and often doesn't work. Kudos to the author for tracing the origins, goals, and effectiveness (and lack thereof) of the West's attempt to economically pressure Putin into stopping his bloody invasion. Well worth your time and money. Ably narrated.