Osiris-ODS
Diamond Member
- Jan 22, 2019
- 3,664
- 3,335
Lots if threads on here about the Ukraine invasion. I understand why you'd want to deflect from the topic, but this thread is about the legacy media's recent confirmation of the authenticity of the Biden pay-for-play corruption scandal, as detailed in the records retrieved from his son Hunter's laptop.Some worry about Hunter's computer. Others worry about the conflict in Europe.
It starts by discussing the issue.
CNN reports, "Europe will consider joining a US-led embargo of Russian oil this week as the West looks for new ways to punish President Vladimir Putin for waging his devastating war in Ukraine.
"At a series of meetings beginning Monday, EU leaders will discuss whether to dump by far the biggest supplier of oil to the region, having already committed to cutting Russian natural gas use by 66% this year."
This is a huge step for Europe. Its economy is dependent upon Russian oil, coal, and natural gas. The European Union currently depends on Russia for about 40% of its natural gas. Russia also supplies about 27% of oil imports, and 46% of coal imports.
By the same token, Russia's economy and state revenue is highly dependent upon energy exports, according to the BBC.
"Overall in Russia, oil and gas provided 39% of the federal budget revenue and made up 60% of Russian exports in 2019. The share of all fossil fuel revenue amounted to 14% of the GDP that year.
If the EU cuts off Russian energy imports, to say the Russian economy and government would be devastated would be an understatement.
So, European officials are talking about it.
"We have to discuss how we can support Ukraine even further, politically, economically, with humanitarian aid, security wise, everything is on the table. So we can ensure that we will do what we can to stop Putin and his aggression against Ukraine," Denmark's Foreign Minister Jeppe Kofod told reporters. "It's important with economic sanctions to continue along that track."
"I think it is unavoidable to start talking about the energy sector. And we definitely can talk about oil, because it is the biggest revenue to the Russian budget," Lithuania's Foreign Minister Gabrielius Landsbergis said.
CNN continued, "Political opinion may be hardening in Europe as Russia steps up its attacks on Ukraine's cities, killing hundreds of civilians and forcing millions to flee their homes.
"Much will come down to countries like Germany, Russia's biggest energy customer in Europe, as well as others that buy a lot of its gas, such as Hungary and Italy.
"German Foreign Minister Annalena Baerbock said the country was "working at full speed" to end its dependence on Russia.
The United States can help. We are the number one oil producer in the world, and the United States became Europe’s largest source of liquefied natural gas, or LNG, in 2021. The U.S. is the leading producer of LNG in the world.
Our President is traveling to Europe this week for important talks with NATO leaders. It is safe to say he will have the leading role.