"WASHINGTON — Even as the United States and its allies have hammered Russia’s economy in response to the invasion of Ukraine, they have held back perhaps the most powerful weapon in their arsenal: a total embargo on oil and gas.
Blocking energy exports and payments to Russia is considered by some analysts as the ultimate step in an escalating sanctions campaign being imposed by the West. An embargo would threaten the very lifeline of the country’s already tottering economy.
About half of Russia’s total revenue comes from sales of oil and gas, the lion’s share from Western Europe. Cutting off that income to the Russian economy would put enormous pressure on President Vladimir Putin.
So why haven’t the U.S. and Europe done it?"
Don Lee reports for the Associated Press March 1, 2022.
SEE ALSO:
"OPEC, Allies Weigh Oil Output Amid High Prices, Russian War" (AP)
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