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“Cutting ties” and sanctions have real impacts, but I can assure you: it doesn’t impact Putin. He’s a sociopath and doesn’t care about his people, otherwise he wouldn’t have done this in the first place. He only cares about the support of his inner circle (the Oligarchs and some other top folks), since they keep him in power.
The real impact of EY cutting ties is to take bread out of the mouths of hundreds or thousands of children and families of the employees whose practices we’re shutting down, so that we no longer do business with other Russian companies that are unaffiliated with their government and therefore will also have little to no impact.
Economic sanctions are effective because they hurt civilians without military action so everyone’s cool with it- but what we’re doing here is causing incredible suffering.
I say let’s not add to the suffering if it can be avoided, and if it can’t be avoided, let’s be as thoughtful about how we do it as we can be.
I am half Ukrainian and half Russian. I spent 8 years of my career working in Moscow and I can assure you that cutting ties and isolating Russian big business will have direct impact on Putin. Majority of those companies have board members from his circle and with ties to Soviet KGB. Every large company that exists in Russia today is there because it made a deal with the regime 20 years ago.
It shouldn't be on the burden of companies to cut ties. This is government issues. If the government wants to cut ties that's on them and they should make it official policies. If not the free market has to make a choice. You can threaten to resign and put pressure, or their customers can put pressure.
Not anymore #cancelculture
They responses have been soft, you’re right. If they cut ties now they’ll likely never be able to reopen those relationships.
Pro
Prisoners' dilemma.
The companies don't trust that their competitors will also exit Russia, and years of training to optimize for the economic outcome have narrowed managers' decision-making to that one dimension.
States need to step up here.