Free Republic

The European Union has reached a deal to ban the import of Russian oil , EU council president Charles Michel said late on Tuesday. In a tweet, he said it would immediately covers more than two thirds of oil imports from Russia, “cutting a huge source of financing for its war machine”.A proposed exception for oil delivered by pipeline earlier edged the EU towards finalising the deal to sanction Russia and squeeze its financial ability to wage war in Ukraine.

Sanctions are hitting Russian families at the grocery store as food prices rise amid surging inflation, which is already running at double the rate of the West. Consumers are falling further behind as wages stagnate in a slowing economy. The situation is expected to get worse as inventories run down, sanctions take effect and buyers adopt strategies that could push inflation higher.

Lyra makes a compelling case that European nations will collapse without food, oil, gas, and raw materials from Russia, while Russia is so close to self-sufficient that it can survive without anything from anybody. If he is right, then Germany, France, the UK, and others are basically committing suicide by toeing the deep-state line on Ukraine.

Russian President Vladimir Putin has accused Western banks of failing to pay for Russian gas supplies after he demanded that European Union member states and other countries pay for Russian gas in rubles. Speaking at a meeting on the current situation in the country's oil and gas sector on April 14, Putin blamed Western partners for what he called "defaults on export deliveries of Russian energy resources." "Banks from these extremely unfriendly states are withholding the transfer of payments," Putin said. Last month, Putin demanded that EU nations pay for gas supplies in rubles as crippling international sanctions slapped on...

Removing Russian banks from SWIFT but leaving the energy intact so Europe has power, was so brilliant they obviously never played chess. Putin just put Biden’s king in check by ordering Europe to pay for gas now in Rubles. That will provide support for the Ruble, and undermine Europe and its Euro as well as the dollar in the long run.