Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,
The EU has unveiled its first tranche of economic sanctions on Russia for its invasion of Ukraine. EU leadership looks even more angry about this outcome than US leadership does. Here’s the article covering this tangled mess by Sputnik News.
We know that the EU is very dependent on Russian energy and the existing sanctions have hampered EU-Russian trade for years now. Europe is incredibly vulnerable here to any form of supply/demand shocks as their financial system teeters on the edge of the abyss.
There is no solidarity between the US and the EU on these matters, as I’ve pointed out in post after post here. So, the question now is, if Europe is targeting Russian energy exports and the ability of EU banks to do business to buy Russian gas and other export commodities why would they pick this fight?
The answer must be that this is exactly what they wanted in the first place.
Continue reading “Luongo: EU Sanctions On Russia Equal “Suicide By Cop””
