Whether one looks at the czarist, Communist, or modern eras, Washington’s policies toward Russia have followed the same pattern: The low level of trade has facilitated the imposition of restrictions for political reasons, but also ensured that those sanctions are ineffective. Another recurring element is that confrontations with Russia typically involve the movement of persons, whether it was czarist restrictions on the entry of American Jews, Communist taxes on the exit of Soviet Jews, or targeted US sanctions on the travel of Russian officials who suppress human rights. That was at least the pattern until 2016. The issue now has new twists and urgency, and apparent historical constants seem to have been reversed. Where we once saw low levels of economic ties and correspondingly low-impact sanctions, the bilateral relationship has been redefined by the intense economic interests of a few individuals and by Russia’s deployment of what may be the most consequential counter-sanctions in history.