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    Sanctions could be viewed as punishing the Russian people — a perception that might fuel President Vladimir V. Putin’s narrative that his country is being persecuted by the West.
    CreditMaxim Shipenkov/EPA, via Shutterstock

    U.S. Sanctions Aimed at Russia Could Take a Wide Toll

    The boldest measures that President Biden is threatening to deter an invasion of Ukraine could roil the entire Russian economy — but also those of other nations.

    By Michael Crowley and

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