Looking to punish Putin, Europe considers cutting oil & gas

Global purchases of Russian oil and gas production account for at least 40% of government revenue for Moscow.

By

World News

April 22, 2022 - 4:09 PM

WASHINGTON (AP) — The United States unleashed some of its toughest actions against Russian President Vladimir Putin right after he rolled his troops into Ukraine. Polls in the U.S. find that people want Washington to do more. So what’s left, financially, diplomatically and militarily, to step up the pressure?

The U.S. could get strong results from any number of next steps, economists and current and former U.S. officials say. It could simply persist in pouring cash and potent weaponry into Ukraine — a likely course. It could even commit to shutting down some of the inroads the Kremlin has made into U.S. political and financial systems, also conceivable.

But the mightiest trigger the West can pull now on Russia, many experts agree, is the one on a gas pump nozzle. Cutting off Russian profits from oil and natural gas sales has become a main topic among world leaders looking at what else they can do to force Putin to end his invasion.

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