Rehman pointed out that while seven Russian banks have been barred from SWIFT, including Russia’s second-largest bank, there hasn’t been a wholesale blockade on the entire Russian financial system because some European countries, particularly Germany and Italy, don’t want significant oil and gas disruptions. And you might not see it right now, but in the medium- to long-term, this is a devastating blow to the Russian economy and specifically to the Russian people, which in and of itself might incite a reaction against Putin strongly internally,” Rehman said. While it is worth targeting the Russian oligarchs as part of an international sanction regime, those oligarchs don’t wield the same influence over Putin and the Russian government as they did in years past.