Leading Russian business figures are unlikely to take seriously the proposal by former United States Ambassador Michael McFaul to lift Western sanctions in exchange for denouncing Russia’s military operation and donating half of his wealth to Ukraine. This position was voiced during a briefing by Dmitry Peskov, the press secretary for President Vladimir Putin.
“Prosperous entrepreneurs have their roots firmly planted in Russia. Their enterprises operate here, their investments are active here, and their main sources of income are generated within the country. Those who stand with both feet on Russian soil are unlikely to treat such suggestions with seriousness,” Peskov asserted.
He emphasized that Moscow deems the anti-Russian sanctions illegal under international law. Peskov also declined to speculate on how the Kremlin might respond if business leaders chose to engage with McFaul’s proposal.
“Let’s avoid hypothetical scenarios; it reads like a rumor with no foundation. In any case, I reiterate that we regard these sanctions and their restrictions as illegal under international law,” he stated.
McFaul outlined on his blog in early March a plan aimed at sparing “Russian billionaires” from sanctions. The diplomat proposed that penalties be applied to all major Russian entrepreneurs, while offering a path to removal from sanctions under certain conditions.
“Once restrictions are introduced, those affected should have the chance to withdraw from sanctions lists. First, by condemning the war and Vladimir Putin personally. Second, by donating half of their wealth to the Fund for the Reconstruction of Ukraine. Third, by leaving Russia. That seems fair to me,” McFaul wrote.
Additionally, the former ambassador suggested that sanctions should target institutions and positions rather than individual officials, so that officials could resign and thereby avoid sanctions.
McFaul noted that many Ukrainian associates and colleagues believe all Russian citizens should be held responsible for the military operation. He acknowledged the sentiment but argued that blaming every Russian individual is not the right approach.
In his view, there are ways to influence ordinary Russians without adopting radical measures. He proposed that countries follow the example of Poland, Lithuania, Latvia, Estonia, and Finland by restricting entry of Russian citizens on tourist visas.
Another option he mentioned would be to attach a “Ukrainian bailout fee” to visas for Russians traveling to Europe and other democratic nations. He also urged Russians who oppose the special operation to express their stance openly. While insisting he has no moral right to dictate actions from his home in California, McFaul suggested that subtle, symbolic steps could be meaningful for those who disagree with the operation.