UK - freezes the assets of all major Russian banks, including VTB Bank, the nation’s second-biggest bank. Britain also plans to bar Russian companies and the Russian government from raising money on U.K. markets. Britain will also ban the export of a wide range of high-tech products, including semiconductors, to Russia and to prohibit the nation’s flagship airline, Aeroflot, from landing at U.K. airports. So - this really is a minor inconvenience for Russia. Will US and EU follow suit? If they do, it would actually mean something. What should also be done is: 1. Ban Russia from SWIFT. 2. Sanction Putin and all the oligarchs, all their spouses/children/families personally. Freeze all accounts and properties. EVERY one. Expel all who live in the West. We know exactly who they are/where they are. 3. Export controls on all Russian exports (timber, minerals, etc.) 4. Specifically oil/gas - announce measures designed to reduce/prevent Russian oil/gas sales. Allow such sales only if the payment goes into escrow accounts not accessible by Russians today.
Except, you cut Russian oil supplies and you spike the price of oil? Russia is the 3rd largest oil producer. The US buys oil from Russia now too. Slash your throat to spite your face? 35% of natural gas of Europe comes from Russia too. Russia has already threatened to cut natural gas supplies to Europe---these sanctions might just result in that. Russia can also, assist North Korea and Iran develop their nuclear missiles. Unthinkable before, not anymore. This war was because Joe Biden and NATO did not want to provide security guarantees----would have saved Ukrainian lives and less destabilizing in the world. Ukrainian membership in NATO is not such a big deal but, they made it so. Now, Ukraine will not be a member in NATO. Good job idiots, you just got war for it.
Russia is 12% of worldwide oil production. The sanctions will not remove all 12% unless Russians completely halt production - they will just not allow payments except into escrow accounts until the resolution of the conflict. And if Russians completely halt it - talk about slashing your throat. US imports 17M barrels a year from Russia. US consumes 18M barrels of oil a day.
No, it is more than that now because remember Joe Biden stopped keystone pipeline, had oil companies investigated by regulators. US oil producers sitting on its oil now, production is way down. And if you don't believe it, wait for the higher oil prices----higher gas prices in the US. It is over $100 a barrel now.
I looked at old data yes. US imports around 20M barrels a month from Russia. US consumes around 18M barrels a day. US domestic oil production in 2021 - a bit above 11M barrels a day. It will take a bit, but with $100 oil, I am sure domestic production will increase.
Don't forget China. Nothing stopping them from buying Russian oil. Right beside them. How convenient.
Dip-shit Joe Biden destroyed 1 billion worth to Canadians in just his first day of office in regards to infrastructure that already had been underway to produce beneficials between both the US and Canada. And front-running insider-trading Nancy Shitelosi tried to come here in the recent past and dictate to Canadians how they needed to stop oil-sands production. For tree-hugger reasons. How now brown cow?
Freeze/confiscate all that is being owned by the elite of russians outside their borders. This will cause permenant dissatisfaction from the inside, against their own leaders. Leave the simple folk aside.