If Vladimir Putin is again hearing the wings of the angel of premature retirement beating around his head, it’s because oil and gas sanctions are back on the table after evidence of the mass murder of civilians in the Kyiv suburb of Bucha.
French President Emmanuel Macron has called for banning Russian sales of oil and coal if not yet the natural gas of Germany’s addiction. The U.S. may up the ante with secondary sanctions on Chinese and Indian companies taking advantage of steep discounts on Russian oil cargoes. With increasing petulance, Germany’s Olaf Scholz has been fighting off bank and think-tank modelers suggesting a hard stop to gas imports might be manageable after all.
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