Amid public pressure, President Biden today announced a ban on the import of Russian oil, gas and coal as well as a prohibition of American investment into the Russian energy sector.
Although some Republicans backed the ban, this hasn't stopped the GOP from blaming Biden rather than Putin for high gas prices. Of course, much of this is political posturing and grandstanding. Republicans claim we were energy independent under Trump. If we were energy independent then why do we need the Keystone XL Pipeline?
Nevertheless, as I argued that the other day, I doubt most Americans even those sympathetic to Ukraine's plight, are going to tolerate such an embargo for long. Granted, the U.S. doesn't import the same quantity of Russian energy as is done by the EU. Still, this is gonna hurt. After all, the Saudis and the UAE don't appear eager to help us so long as the Biden Administration insists on reviving the Iran nuclear agreement.
I don't think this is going to change Putin's behavior. But it could change the behavior of some officials and oligarchs if they start losing money. If Putin is going to be defeated it will be from within, but this could take some time. Unfortunately, patience is not an American virtue and, fair or not, Democrats will likely earn the wrath of voters already impatient with COVID.
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