I didn’t think our new sanctions had much teeth. But maybe they do.
Biden’s sanctions are weak and pathetic. Nothing less than a total trade embargo on Russia is going to do anything to discourage Putin from conquering Ukraine and then moving on to his next victim or victims.
Moscow exchange doesn’t work on Feb. 23 due to a federal holiday. Whatever sell-off on the thin market in London is meaningless. It is going to get aligned with MOEX tomorrow.
Russia has fossil fuels.
China, the most powerful manufacturing colossus ever created, needs fossil fuels.