Biden Just Banned Russian Oil. Yawn.

Payne Institute Director Morgan Bazilian contributes to this article about how in February, when the United States and Europe first slammed down economic sanctions on Russia in retaliation for its invasion of Ukraine, they carved out a huge exception for the country’s energy sales. Vladimir Putin’s nation is one of the world’s most important exporters of oil and natural gas, and Western leaders worried that twisting the spigot shut would cause fuel prices to soar, risking political and economic trouble in their own countries. Now, however, the White House has decided to turn off the tap—at least here in the U.S.  March 8, 2022.