Biden’s Ukraine Response Is Mired in Barrels of Oil
With sanctions blocking imports of Venezuelan crude, the U.S. has come to rely on supply from Russia.
The U.S. uses a lot of Russian oil.
Photographer: Andrey Rudakov/BloombergWhen it comes to the Ukraine crisis and energy, we are less in a war of attrition than one of asymptotes.
Russian President Vladimir Putin has recognized two breakaway statelets in eastern Ukraine. Not to downplay the importance or drama of this move, but like so many before it, it is another calibrated step toward the edge. In response, German Chancellor Olaf Scholz suspended approval of the Nord Stream 2 gas pipeline from Russia — but held back from killing it outright. Broader Western sanctions came Tuesday, though not the most severe ones, because Putin’s latest move doesn’t yet meet the vague definition of a full invasion.