Russia Faces Coordinated U.S.-EU Crackdown as Oil Sanctions Escalate

One of the glaring omissions to many dedicated energy market observers in the past few years has been the U.S.’s avoidance of meaningfully punishing countries who support rogue states. This can be either through offering logistical support that enables such a state to continue to export whatever it wants or by buying these exports, which effectively bankrolls these states to pursue their illegal activities. A full arsenal of primary or secondary sanctions have been available to Washington to do so, but they have never been used in full force…