Slow Oil Ban Is Latest Idea In EU-Russia Coordinated Decoupling

Slow Oil Ban Is Latest Idea In EU-Russia Coordinated Decoupling

The EU may be poised to unveil a ban on Russian crude. But it'll be phased in over eight months and could face opposition from Viktor Orban's Hungary, even as Germany is now provisionally on board. In addition, a sixth sanctions package could include more penalties on Russian banks, as well as financial institutions in Belarus, which would see their SWIFT access severed. The new measures could be agreed next week, sources told Bloomberg. If you're inclined to emit a fatalistic sigh, you're n
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7 thoughts on “Slow Oil Ban Is Latest Idea In EU-Russia Coordinated Decoupling

    1. Yeah. It’s quite unfortunate. He’s sealing the fate of an entire generation. Even if you think it’s “unfair” that the West is weaponizing the global financial system, the inescapable reality is that Putin knew what the financial and economic consequences of this would be for (as you say) young professionals in Russia. And he did it anyway.

      1. If the net result of the war is sealing the fate of an entire generation in Russia, then the world would be getting off easy. It could be worse than that.

  1. I highly recommend Tim Snyder’s book “The Road to Unfreedom.” He offers a thorough, prescient view of Russia’s war with Ukraine (ongoing since 2014), and the deeply internalized Orwellian belief system that undergirds Putin’s vision and its implementation. Snyder deliberately employs a somewhat hyperbolic approach in this book aimed at a non-academic audience, in order to reveal the neofacist basis of Putin’s regime and schemes.

  2. I’m still optimistic that the existential threats will unite the world more than the land grabbing autocracies have divided. Whether it is Putin and Xi who cooperate with fuel demands and benefit from rare earth supplies for renewables is up to them.

    That reformation looks like a win now while securing future leverage for autocrats and would speed up the West’s transition from dependence on fossils to dependence on rare earths. Everyone can pat their backs and each other’s while promising a future brought to the world by them. Mutualism while maintaining importance and independence. Sound easy enough?

  3. A very large portion of Russian oil production will be effectively taken off the market over the coming year, since Russia lacks the infrastructure to send all of the formerly EU-bound oil to non-EU buyers.

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