, Columnist
Europe Should Tax Russian Gas, Not Ban It
There’s a better way to cut Russia’s revenues, and it wouldn’t crash Europe’s economies.
Tax it, don’t ban it.
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Europe’s governments are arguing over how to tighten their economic sanctions on Russia. The main gap in their punitive system is their continuing payments for Russian gas. Germany, especially, has been reluctant to impose a ban because its economy would struggle to cope with the consequences.
Economics suggest a much better approach: Instead of making Russian gas illegal, Europe should make it expensive.