
In a world of economic interdependence, sanctioning Russia will likely prove more globally destabilizing than policymakers realize. To be effective, the West needs to look to vulnerable Russia-dependent economies, like those of Central Asia, in order to mitigate collateral damage.










![Outside the building housing the offices of Concord Management, an advisory firm, in Tarrytown, N.Y., March 9, 2022. For years, a group of wealthy Russians have used Concord Management LLC to secretly invest money in large U.S. hedge funds and private equity firms, according to people familiar with the matter. [Karsten Moran/The New York Times]](/images/2022/NYT-Concord_managment.jpg)







