Carl Lee27 said:It looks like some kind of deal at the EU level might have actually gone through; word is an embargo on Russian oil is set to kick off next week, though it’ll likely be rolled out in stages—so we’re probably looking at just a partial embargo to start with.
https://twitter.com/SamRamani2/statu...96015059144704
Things are starting to move, if you catch my drift.
Since this war kicked off, Russia has raked in 62 billion Bucks, according to this Guardian link.
Lower volume of oil and gas, but at much higher prices.🤦
https://www.theguardian.com/world/20...-ukraine-began
Unless we actually shut down Russian oil and gas production en masse, we’re just dreaming about the end of the war. We're talking about the second largest producer of oil and gas in the world, according to Wikipedia.
By the time sanctions fully bite and we reroute pipelines, LNG terminals, and prep refineries to handle different crude, we're looking at years of transition.
Honestly, it’d be cheaper to just crank weapon production in NATO countries to fifth gear and ship it straight to Ukraine.
If we cut the Russian tap right now, a gallon of gas would cost at least $8.25 for a sedan, and the European economy would tank straight into a nasty recession.😵
But hey, that doesn't suit the Russians or Europe, does it?
So most of these sanctions against Russia are basically shots in the dark, unless we're talking about electronic components for weapons.