The Biden Administration and NATO allies are talking a big game to Russia.
After failing to prevent a Russian invasion they are now going full economic warfare to stop Putin.
The last sanction to fall is going to be targeting Russian oil and gas. Europe and the US are yet to back it but the Biden administration is finally considering it.
Energy market analyst Bob McNally issued a warning if it does end up going through.
Energy market analyst Bob McNally on what happens if all Russian oil and gas is cut off: "There will be a global recession. It’s pretty much lights out for the global economy … The only thing would be demand destruction, which would be bone-crushing price increases"
— Jeff Stein (@JStein_WaPo) March 7, 2022
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