[New U.S. sanctions on 38 Russian oligarchs are] the most significant we have seen yet [under the Trump administration, targeting] the elites that surround Putin... If we are looking for sanctions that will have the ability to affect Putin's calculus, it's these type of actions we would want to see.
The West has, in recent years, been mired in political turmoil and economic stagnation. Citizens have expressed declining trust in domestic institutions and mainstream political parties. Concurrently, Putin and Xi have consolidated power at home and are expanding their military and economic influence beyond their borders.