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By the way, I thought (except for his proclivity for hesitating/stuttering), Biden did fine today. Stern but not angry. All business.
I wondered what sanctions the West was still holding in abeyance, and found this:
What other sanctions could Russia face?Western nations have threatened Russia with harsh sanctions if it invades Ukraine.Excluding Russia from SwiftOne measure would be to exclude Russia from the global financial messaging service Swift, which is used by thousands of financial institutions worldwide. This would make it very hard for Russian banks to do business overseas. However, this would have an economic cost for countries like the US and Germany, whose banks have close links with Russia. The White House says it is unlikely to be unleashed as an immediate response to an invasion.Banning Russia from using the US dollarThe US could ban Russia from financial transactions involving US dollars. Any Western firm that allowed a Russian institution to deal in dollars would face penalties. This could have a huge impact on Russia's economy as most of its oil and gas sales are settled in dollars. It could cripple Russia's foreign trade in other sectors. However, it would mean Russia's oil and gas exports would slump, and that would affect European countries which are dependent on Russian gas.Block the banksThe US could blacklist Russian banks, making it almost impossible for it to conduct international transactions.Moscow would have to bail out the banks and do what it could to avoid inflation rising and incomes falling. However, this would hurt western investors with money in those banks. Besides, Russia has reserves of over $630bn (£464bn) in its central bank to guard against such economic shocks.Blocking the export of hi-tech to RussiaThe West could restrict the export of key hi-tech commodities to Russia. The US, for example, could stop companies selling goods such as semiconductor microchips. These are used in everything from cars to smart phones. This would affect not just Russia's defence and aerospace sectors, but whole swathes of its economy.However, it could hurt the business of companies which export the technology. Energy restrictionsRussia's economy is hugely dependent on selling gas and oil overseas and Western nations could refuse to buy oil and gas from the big Russian energy giants such as Gazprom or Rosneft. Again, however, this could bring higher gas prices and fuel shortages to Europe. Germany, for example, relies on Russia for one-third of its gas supplies.
Limiting Russian access to London's financial institutions Such is the scale of Russian money in banks and property in the UK that the capital has been dubbed "Londongrad". The UK government claims it is tackling this problem with "unexplained wealth orders", which require people to say where their cash has come from. But only a handful of these orders have ever been used.![]()
What are the sanctions on Russia and have they affected its economy?
Over the past two years, Western nations have imposed sanctions on Russia for invading Ukraine.www.bbc.com
There are also other possibilities such as travel bans.
I like how that list all ends with (paraphrased) “However, we can’t upset big business.” The only thing we can guarantee is they’ll jack up gas prices in an already completely manipulated market. The fossil fuel industry just can’t get a break.
Not that it's his fault but the public has already been screaming "When is Biden going to do something about gas prices?!?!" Well, he did something. Raised them. As the perception will go. Good thing the dems have been knocking it out of the park on every other issue. Otherwise they might be in danger of losing power.