{"id":414998,"date":"2022-03-12T05:05:54","date_gmt":"2022-03-12T02:05:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sanctions-dont-do-much-until-they-target-putins-oil\/"},"modified":"2022-03-12T05:05:54","modified_gmt":"2022-03-12T02:05:54","slug":"sanctions-dont-do-much-until-they-target-putins-oil","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sanctions-dont-do-much-until-they-target-putins-oil\/","title":{"rendered":"#Sanctions don&#8217;t do much until they target Putin&#8217;s oil"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25553db59f1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25553db59f1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sanctions-dont-do-much-until-they-target-putins-oil\/#%E2%80%9CSanctions_dont_do_much_until_they_target_Putins_oil%E2%80%9D\" >&#8220;Sanctions don&#8217;t do much until they target Putin&#8217;s oil&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/sanctions-dont-do-much-until-they-target-putins-oil\/#Its_time_to_lead_by_example\" >It\u2019s time to lead by example\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSanctions_dont_do_much_until_they_target_Putins_oil%E2%80%9D\"><\/span>&#8220;Sanctions don&#8217;t do much until they target Putin&#8217;s oil&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Friday afternoon <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> dumps are always revealing, and that includes last week\u2019s Treasury Department clarification of US sanctions on Russian banks. Don\u2019t buy the Biden administration\u2019s line that it\u2019s pulling out the stops against Russia.\u00a0<\/p>\n<p>The president continues to insist he\u2019s \u201cenforcing the most significant package of economic sanctions in history\u201d against Vladimir Putin\u2019s regime. Some Biden loyalists are even veering toward hagiography. Connecticut\u2019s Chris Murphy bragged last week on the Senate floor that Mr. Biden\u2019s \u201cstunning\u201d diplomacy had produced \u201ca sanctions package that is sweeping, that is unprecedented, that is breaking the back of the Russian economy.\u201d The press nods along.\u00a0<\/p>\n<p>The reality is far different, which accounts for rising frustration in Congress \u2014 and growing divisions between even Democrats and the White House. The administration refused to impose sanctions in the lead-up to Mr. Putin\u2019s invasion, naively trusting diplomacy. Yet even after Russian tanks rolled \u2014 and despite having months to prepare \u2014 the response has been slow, timid, hostage to feel-good \u201cmultilateralism\u201d and unwilling to attack the real engine of the Russian economy: energy. Even the president\u2019s own party is losing patience with his inadequate sanctions.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-3.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"President Joe Biden speaks at the House Democratic Caucus Issues Conference.\" class=\"wp-image-21504357\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-3.jpg?quality=90&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-3.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-3.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-3.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>President Biden speaks at the House Democratic Caucus Issues Conference.<\/figcaption><figcaption><span class=\"credit\">Patrick Semansky\/AP<\/span><\/figcaption><\/figure>\n<p>Consider that Treasury announcement. In late February Mr. Biden grandly announced sanctions targeting Russian banks. Yet on Friday, Treasury quietly clarified that the sanctions won\u2019t <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly to the banks\u2019 energy transactions until June 24 \u2014 meaning Wall Street can continue to trade in Russian oil and gas. \u201cThe energy sector of the Russian Federation economy itself is not subject to comprehensive sanctions,\u201d explained Treasury\u2019s Web site, a scandalous caveat the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> largely ignored.\u00a0<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Sen. Rob Portman on Tuesday asked Undersecretary of State Victoria Nuland to justify the decision to give the Russian energy sector a pass for four months. She explained that working \u201cmultilaterally\u201d remained the top priority, so \u201cwe did agree to a phase-in\u201d at the behest of energy-dependent \u201cEuropean allies.\u201d\u00a0<\/p>\n<p>Mr. Biden this week belatedly announced a ban on Russian oil and gas \u2014 but only because congressional Democrats and Republicans were uniting to pass legislation forcing his hand. Even Speaker Nancy Pelosi supported the ban and reportedly refused to agree to a White House demand to drop it. The Biden team scrambled to get ahead of Congress by announcing the embargo itself.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"780\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Ukraine.WarMap.march11.V1-4.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"\" class=\"wp-image-21504031\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Ukraine.WarMap.march11.V1-4.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Ukraine.WarMap.march11.V1-4.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Ukraine.WarMap.march11.V1-4.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Map of the Ukraine war as of March 11, 2022. <\/figcaption><\/figure>\n<p>The White House has also demanded congressional Democrats stand down on a bipartisan bill that would suspend Russia\u2019s preferential trading status with the US \u2014 again, seemingly in order to discuss it to death with Europe. The good news is that lawmakers in both parties said late this week that they remain undeterred and may pass the trade restriction next week \u2014 potentially forcing Mr. Biden\u2019s hand again.\u00a0<\/p>\n<p>The White House is nonetheless getting its way when it comes to blocking a Republican bill from Sen. Jim Risch that would impose real sanctions on Russia\u2019s oil, gas, mining and mineral sectors. It targets oligarchs. It would create a lend-lease program to ensure Ukraine will continue to get necessary military resources. Crucially, it provides for \u201csecondary sanctions\u201d against global institutions that finance the Russian economy. As Mr. Risch notes, these secondary sanctions would \u201cforce the world\u2019s financial institutions to make a choice between Russia and Western markets\u201d and finally \u201cisolate\u201d the Russian economy.\u00a0<\/p>\n<p>The White House is resisting all this for the same reason it resisted the Russian oil embargo. Truly punishing sanctions against Russia\u2019s energy sector are still anathema to Old Europe allies who want to continue importing Russian oil. The administration also fears that seriously targeting Russian energy would further drive up gasoline prices, hurting Mr. Biden domestically. Senate Foreign Relation Chairman Bob Menendez was, before the invasion, working with Mr. Risch on a bipartisan bill. At the behest of the White House, he went AWOL, and Democrats last week blocked a vote on the Risch legislation.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Its_time_to_lead_by_example\"><\/span>It\u2019s time to lead by example\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-2.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Russian President Vladimir Putin\" class=\"wp-image-21504356\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-2.jpg?quality=90&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-2.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-2.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/putin-biden-sanctions-2.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Russian President Vladimir Putin invaded Ukraine February 24, 2022. <\/figcaption><figcaption><span class=\"credit\">Mikhail Klimentyev\/AP<\/span><\/figcaption><\/figure>\n<p>Republicans note that for all the talk of multilateralism, the US is woefully trailing Europe in other areas. Since February the European Union has imposed sanctions on at least 12 oligarchs among the Navalny 35, a list of key Putin abetters compiled by dissident Alexei Navalny\u2019s organization. The UK has targeted nine of them since February; the US, zero. Yes, Washington has targeted a handful of Putin cronies, but it\u2019s only a sliver of the hundreds of oligarchs who hold Russia\u2019s wealth. It did, however, announce a \u201ctask force\u201d to investigate oligarch behavior. Twenty-two years into the Putin regime, the US government doesn\u2019t have that information?\u00a0<\/p>\n<p>The Biden team will argue that sanctions work best in conjunction with allies. No doubt. But the way to get the world to join in truly punishing and isolating Mr. Putin is to lead by example and to invite or shame allies into joining the fight. It\u2019s not the current approach, which is to yammer in the halls of Foggy Bottom and settle for the path of least resistance. Mr. Biden can talk all he wants about his plans to cripple Mr. Putin\u2019s economy. He has yet to take the steps that might actually do it.\u00a0<\/p>\n<p><em>From The Wall Street Journal.\u00a0<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/03\/11\/sanctions-dont-do-much-until-they-target-putins-oil\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Sanctions don&#8217;t do much until they target Putin&#8217;s oil&#8221; Friday afternoon news dumps are always revealing, and that includes last week\u2019s Treasury Department clarification of US sanctions on Russian banks. Don\u2019t buy the Biden administration\u2019s line that it\u2019s pulling out the stops against Russia.\u00a0 The president continues to insist he\u2019s \u201cenforcing the most significant package&#8230;<\/p>\n","protected":false},"author":1,"featured_media":414999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/newspress-collage-21504295-1647049476229.png?w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[126635,991,72970,125897,71523,70868,126128],"class_list":["post-414998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-11-22","tag-joe-biden","tag-oil","tag-putin","tag-sanctions","tag-ukraine","tag-ukraine-war"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=414998"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/414999"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=414998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=414998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=414998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}