Key Points and Summary – The U.S. and E.U. have unveiled parallel, sweeping new sanctions against Russia, causing global oil prices to surge by over $2 a barrel.
-The E.U.’s 19th sanctions package is designed to choke Moscow’s energy revenue by banning Russian LNG imports, blacklisting over 100 “shadow fleet” tankers, and restricting crypto and AI services. Russia called the moves “painful… but not deadly.”
Putin in 2022. Image Credit: Creative Commons.