The European Union was born out of the ashes of World War II. Its architects surmised that countries bound together by economic ties would be far less likely to go war with one another. Russia is a major supplier of oil and gas to Western Europe. The sanctions announced by President Biden notably fail to target those exports. There are reports that Russia has not been ejected from SWIFT, the international financial transaction system, because doing so would hinder Russian petroleum exports at a time when Europe is already suffering from levels of inflation not seen for decades.
The (Economic) Ties That Bind
The (Economic) Ties That Bind
The (Economic) Ties That Bind
The European Union was born out of the ashes of World War II. Its architects surmised that countries bound together by economic ties would be far less likely to go war with one another. Russia is a major supplier of oil and gas to Western Europe. The sanctions announced by President Biden notably fail to target those exports. There are reports that Russia has not been ejected from SWIFT, the international financial transaction system, because doing so would hinder Russian petroleum exports at a time when Europe is already suffering from levels of inflation not seen for decades.