Bill Browder, long-time critic of Vladimir Putin, has called for sanctions on refineries that purchase Russian crude oil, warning that they funnel up to $1 billion a day to the Kremlin. Browder argues that targeting these plants in China, India, and Turkey could be a decisive way to cut funding for Russia’s war in Ukraine. Browder’s campaign against Putin has spanned decades, surviving threats, lawsuits, false murder accusations, and Interpol arrest warrants. Sixteen years after the death of his lawyer Sergei Magnitsky at the hands of the Kremlin, Browder continues his fight for accountability. His efforts have already cost Putin and his associates billions through asset freezes and sanctions, despite considerable personal risk. A former CEO of Hermitage Capital Management, Browder made his fortune in post-Soviet Russia before taking on the far more dangerous challenge of opposing the Kremlin. At the World Economic Forum in Davos, he pressed European leaders, U.S. senators, and corporate executives to increase financial pressure on Russia. Browder remains skeptical that diplomatic efforts will succeed in ending the war. He argues that Putin’s invasion is a distraction from domestic failures. “Putin cannot stop the war because he started it as a war of distraction against his own incompetence,” Browder said. “It’s not about Ukraine. It’s about maintaining power at home. If he stopped, he’d lose power and likely his life.” Browder emphasized that Ukraine cannot stop defending itself, pointing to atrocities like Bucha as examples of what could happen if the country is occupied. “Ukrainians understand full well that the women will be raped, men tortured and killed, and children kidnapped. Neither side can stop the conflict alone,” he said. European leaders share concerns about Russia’s persistence. Finnish President Alexander Stubb noted that Russia’s financial exhaustion, inflation, and economic stagnation make the war unsustainable. “I’m more worried about Russia’s unwillingness to end this war because they cannot afford to do so than about Russia’s capability to win it,” he said at Davos. Since 2012, Browder has successfully lobbied for sanctions against Russians involved in Magnitsky’s death. He has also advocated for diverting more than $200 billion of frozen Russian assets toward Ukraine’s defense. Progress has been slow, particularly due to opposition from Belgium, prompting Browder to focus on refineries processing Russian crude. According to Browder, eight key refineries in China, India, and Turkey process Russian oil into petrol, diesel, and jet fuel, sending between $500 million and $1 billion daily to Moscow. Browder argues that sanctions against these refineries would dramatically reduce Russia’s oil revenue, weakening Putin’s war effort. “It’s the most straightforward action I’ve ever seen,” he said. “Putin finances this war with oil sales. Stop the purchases in China, India, and Turkey, and the oil would sell at a massive discount. In six months, Putin would be effectively out of business.” Browder’s call highlights the critical role of global oil markets in sustaining Russia’s military operations. He insists that cutting this financial lifeline is essential to ending the war and holding Putin accountable for the ongoing conflict in Ukraine.