Without targeting oil and gas, the West's sanctions against Russia are largely toothless and unlikely to have a major impact
. Meanwhile, Germany is continuing to phase out nuclear, making it more reliant on Russian energy imports.
A demonstrator holds a placard reading"Enjoy Russian gas with smell of Ukrainian blood" during a protest against Russia's invasion of the Ukraine on February 25, 2022 in front of the Chancellery in Berlin.Or, perhaps, the White House is more concerned with rising gas and utility prices for American consumers already facing the highest prices since 2014. Midterm elections are coming, and Biden’s approval rates are underwater. If the U.S.
The U.S. could also revoke the exemptions that allow Russian petroleum product transactions to continue despite sanctions advertised as designed to stop exactly that. Not only does the current sanctions package not target energy, but it in fact includes carve outs that allow for work arounds of the energy inclusions.highlighted that the Administration, in Biden’s own words, “specifically designed [the sanctions package] to allow energy payments to continue.
Two months is not enough time to build new LNG terminals or full length pipelines, but it is enough for the U.S., Canada, Norway, Saudi Arabia, and others to ramp up production. The U.S. is a net importer of oil, but experts expect it could increase production by over a million bpd in 2022. Biden has already asked Saudi Arabia to increase production, and there are others the U.S. can ask. Some are likely to agree given the astronomical price of oil, elevated by the Russian invasion itself.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysis: Why are EU countries resisting UK call to boot Russia off the Swift system?Western leaders remain divided on a key retaliatory move against Russia. Adam Forrest takes a look at the growing row
Read more »
Ukraine conflict: What is Swift and why are leaders divided on banning Russia?The UK wants Russia banned from the Swift financial network, but other countries are resisting.
Read more »
Eurovision: Russia banned from competing at 2022 Song ContestThe organisers said the inclusion of Russia could bring the competition into disrepute.
Read more »
Russia carrying out ‘indiscriminate attacks’ on civilian areas, says Amnesty‘Military has shown blatant disregard for civilian lives,’ group says
Read more »