Why Western sanctions aren't hitting Russia where it would hurt the most: oil and gas
WASHINGTON — President Joe Biden is preparing to hammer Russia in his State of the Union address Tuesday, but he's likely to stop short of employing perhaps the most powerful economic weapon in the American and Western arsenal: a full-on embargo of Russian oil and gas.
Blocking energy exports and payments to Russia is considered by some analysts as the ultimate step in an escalating sanctions campaign being imposed by the West. An embargo would threaten the very lifeline of the country's already tottering economy.
About half of Russia's total revenues come from sales of oil and gas, the lion's share from Western Europe. Cutting off that income to the Russian economy would put enormous pressure on President Vladimir Putin.
So why haven't the
