The worst outcome, a highly discriminatorytreatment of foreign holders of government debt, has been avoided (or at least postponed) thanks to frantic lobbying by, among others, the International Monetary Fund, which threatened to cancel the second tranche of its aid programme to Russia.
The more efficient and effective approach is to allow profitable companies to return excess capital to their shareholders without subjecting those dividends to discriminatory tax treatment.
The only way around this simple fact is to discard any notion of non-discriminatory taxation and equal treatment under the law and design the tax code as a punitive instrument to redistribute income.