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‘We may reach the point where Putin can’t even pay his troops’

A Western oil embargo against Russia raises the geostrategic stakes exponentially. What was almost unthinkable last week has become unstoppable this week.

Ambrose Evans-Pritchard
Updated

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A Western oil embargo against Russia raises the geostrategic stakes exponentially. What was almost unthinkable last week has become unstoppable this week. Ukrainian resistance and outraged moral opinion in the democracies has changed the character of this war, and changed what the West is prepared to do.

The White House is imposing a total halt to oil, gas, and coal sales from Russia. It is sending emergency missions to Saudi Arabia and Venezuela to find enough extra barrels of crude. It is pushing for a quick deal with Tehran on nuclear proliferation to bring back Iranian crude. You can hear the growls of the world’s slumbering superpower provoked into righteous wrath.

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The Telegraph London

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    Original URL: https://www.afr.com/companies/financial-services/the-west-can-survive-a-blockade-of-russian-oil-and-gas-20220309-p5a302