The idea of BRICS creating a common currency will never happen because no one would want to hold the currency of Russia, China is not a true economic miracle but is instead going through a worsening problem, and authoritarian systems with lack of free speech and poor demographics don't lead to good economic outcomes.

The Magnitsky Act's effectiveness is proven by Putin's extreme reaction when it was passed in the United States, including banning adoption of Russian orphans by American families and making repeal of the Act his single largest foreign policy priority.

Sergey Magnitsky uncovered a $230 million government corruption scheme in Russia, testified against those involved, was arrested in retaliation, tortured for 358 days, and was killed in Russian police custody on November 16th, 2009.

The pattern of corruption in Russian government may be partly explained by historical experience where Russians have been 'beaten down through any initiative [or] any Goodwill has sent you to the Gulag for generations,' creating cultural learned helplessness and cynicism about trying anything different.

Putin initially arrested and removed the richest oligarch to signal to the remaining 21 oligarchs that they must negotiate with him, at which point he demanded 50% of their wealth, making himself the richest man in the world and the biggest oligarch rather than dismantling the oligarchic system as promised.

Putin's current wealth is approximately 200 billion dollars, and when combined with the wealth of oligarchs around him, totals approximately one trillion dollars of money stolen from the Russian state.

In Russian government culture, there is a universal pattern where every official from the lowest traffic police officer to the president enters government to enrich themselves, with no expectation of public service or responsibility, unlike the UK and United States where many enter public service to serve the public.

Putin's rise to power was an inevitable outcome of the anger and pent-up demand for backlash created by Boris Yeltsin's deal with 22 oligarchs who controlled over 40% of Russia's GDP while the average Russian lived in abject poverty with male life expectancy at 58 years old.

Russia's economy is not capitalism but a single large criminal organization with Putin as the top crime boss and sub-crime bosses below him, where any person who sets up a business either must become part of the criminal organization or face having their assets stolen, going to jail, or dying.

The Magnitsky Act strategy targets individuals rather than countries, based on the insight that corrupt officials take money they earn in Russia and place it in Western financial centers (New York, London, Geneva) where they use wealth for personal benefit while simultaneously committing violent crimes in Russia.

Freezing assets and banning travel of individuals is much more effective than sanctioning countries because individual sanctions directly impact the lifestyle and wealth of corrupt officials, while country sanctions leave elite populations able to continue lavish lifestyles.

Putin sent an emissary to Trump Tower in June 2016 before Trump was elected specifically to beg Trump to repeal the Magnitsky Act, indicating it is the Achilles heel of the Putin regime.

Putin deliberately does not hold money in his own name because he understands that any bank statement with 'Vladimir Putin' on it could be used for blackmail, as he himself is a blackmailer who uses blackmail, bribery, and threats of death as his primary tools of control.

Despite appearing as tough, chest-thumping alpha males, oligarchs are actually fearful and submissive when in Putin's presence, as evidenced by their body language when Putin appears at events like Davos in Switzerland.

Sanctions are causing great pain to Russia in the same way Ukrainian missiles are causing pain, and the proper way to stop the war is to embargo the sale of Russian oil to both the West and the East, cutting off Russia's daily revenue of 500 million to 1 billion dollars.

The Western claim that oil embargo is impossible due to energy needs is false because the US and other Western powers have leverage over oil-producing countries like Saudi Arabia, which they could use to increase production, eliminating the energy shortage argument.

You can tell which countries are succeeding by analyzing immigration patterns—millions of people try to leave China and enter the UK, US, and Canada, demonstrating through revealed preference where people believe economic opportunity exists.

The BRICS Development Bank that was created as an alternative to the World Bank will help Russia on only an extremely small scale—amounts that would help Russia for weak not weeks not for a year not for five years.

London has become the home of Russian oligarchs and plutocrats, with Russian money having significant tentacles in London property and assets, and the British establishment welcomed Russian gangsters with open arms while looking the other way on the origin of their wealth.

Russian money in London is being undone because of the atrocities committed in Ukraine and because the British public no longer tolerates it, though the British government, law enforcement agencies, and establishment rules are not fit for purpose in dealing with dirty money generally.