July 12, 2022
Western countries, led by the U.S., have imposed a historic amount of sanctions on Russia after its decision to invade Ukraine, which have inflicted serious pain on all parties involved.
The Trends Journal reported last week that the latest arrow in the West’s quiver would be to impose a price cap on Russian oil, which seems to border on fantasy. (See “DELUSION RULES: G7 MEMBERS AIM FOR PRICE CAP ON RUSSIAN OIL.”)
Russian President Vladimir Putin said the world needs to be prepared for “catastrophic consequences” if there are additional sanctions leveled at Russia. He admitted to his parliament that the Western sanctions have been painful for Russia, but insisted that the pain felt by the West has been worse.
“The further use of sanctions could lead to even more severe consequences, even, without exaggeration, catastrophic consequences on the global energy market,” he said, according to the Financial Times.
President Joe Biden has made it clear to Americans that Putin is behind much of the economic pain they’ve been facing. (See “BS BIDEN BLAMES PUTIN FOR ECONOMIC PAIN.”)
Biden said last month that Americans have been willing to sacrifice after the Russian invasion and “chose to stand with the people of Ukraine.”
“So for all those Republicans in Congress criticizing me today for high gas prices in America, are you now saying we were wrong to support Ukraine? Are you saying we were wrong to stand up to Putin? Are you saying that we would rather have lower gas prices in America and Putin’s iron fist in Europe? I don’t believe that,” he said.
Biden told Americans on Friday that his plans are working, and pointed to gas prices that he said have fallen for 25 days in a row. The national average for a gallon of gasoline was $4.72 when Biden made the comment.
Recent Comments