1. How is Prokhorov’s transfer of the basketball team the Brooklyn Nets an example of hedging the risk of increased sanctions?

2. Are there costs associated with the Russian response to the U.S. and EU sanctions? If so, who pays them?

3. How would you advise a Russian who has considerable assets in the EU and United States to protect his or her assets?

The March, 2015 sanctions imposed on Russia for its annexation of Crimea were meant to send a non-military response to what many Western governments see as a territory grab. These sanctions, initially imposed on individuals in Putin’s inner circle and some defense companies, later were expanded. This feature explores the effects of the sanctions on Russians and how they might hedge their effects.