The U.S. Should Sanction Russia’s Oil Over Ukraine
March 1, 2022
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7:38Now PlayingThe U.S. Should Sanction Russia’s Oil Over Ukraine
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Should the U.S. respond to Russia’s overt aggression in Ukraine? How should it respond? While the European Union and the Biden administration have levied sanctions against Putin and other parts of the Russian economy, thus far the oil and gas sector has been completely ignored.
This is mainly due to how dependent Europe is on Russian oil for their energy. For all their talk of being “green,” much of Europe is dependent on Russian fossil fuels. In response, the German government has begun to talk about switching their dependency back towards nuclear energy, as well as building infrastructure to import more liquid natural gas (LNG) and other fuel sources from elsewhere abroad. READ: not the way out of climate apocalypse or good for the planet!
If the United States really wanted to turn the screws on Russia, the most effective way for them to do so would be to cut them off from the global oil market. It would be a major step, and the potential retaliation is uncertain, but economically it is easily the most immediately harmful to Russian state interests.
Andy Kindler is a comedian and cohost of the podcast “Thought Spiral.” Get his comedy album “Hence The Humor” on all platforms. Follow him on Twitter
Wajahat Ali is a columnist at The Daily Beast, a Senior Fellow at the Western States Center, and the author of “Go Back to Where You Came From, And Other Helpful Recommendations on How to Become American.” Follow him on Twitter
Recorded February 27th, 2022
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