ENB Publishers Note: Sanctions will not stop Putin. Sanctions only hurt the consumers, the poor, and the disproportionately impacted communities. The new China energy deal ensures cash flow. As another critical piece, Pakistan is completing a deal with Russia on a natural gas pipeline, but they would need to find a pipeline contract builder impervious to sanctions. China is bidding on the pipeline. I bet they win the contract. Iran is another example of sanctions not working. They had made contracts with China and survived all U.S. sanctions using the China contracts as cash flow.
The Biden administration won’t sanction Russian crude oil because that would harm U.S. consumers and not Vladimir Putin, a U.S. State Department official said Friday. Amos Hochstein, the State Department’s senior energy security adviser, spoke to Bloomberg’s Annmarie Hordern. She’s on “Balance of Power.” (Source: Bloomberg)