Mr. Speaker, what has been identified really clearly is, if we want to apply pressure on Putin, the current approach with sanctions, while symbolically important, will not impact him. He has amassed significant wealth by stealing from his own country, so sanctions on the country will not be sufficient to curtail his actions or send a clear message that will hurt Putin personally.
The only way to apply pressure in this case is make President Putin feel the pain. We know that his wealth is held and hoarded by oligarchs, many of whom have been identified by many advocates. We need to identify and sanction those specific oligarchs with Magnitsky law, the sanctions and powers we have. That will send a very powerful message and hurt Putin where it counts, which is his greed and the wealth he has amassed by stealing from the country and Russians.
That is what we need to do. That is a powerful tool, which has yet to be used effectively, and it is part of what New Democrats are calling for, which is to apply real leverage and pressure to end what is going on in Ukraine, to end the violence and stop Putin from continuing to do it.