Implementing a ban on Russian oil could prompt Moscow to retaliate and use natural gas as a political weapon by halting LNG exports to the EU. Restricting imports of Russian energy will only damage western economies by pushing up oil and gas prices for European consumers, perhaps even pushing Europe into recession, while Russia continues business elsewhere.
The US and its G7 allies are continually discovering new measures to starve Russia's ability to fund its war in Ukraine. They may even mandate a cap on the price of Russian oil purchases, thereby stabilizing prices and the global economy while ensuring Moscow cannot profiteer and continue its international aggression. Sanctions can still play a key role in limiting Russia's capacity in this war.
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