Oil & Gas

As Russia’s aggression in Ukraine continues, Western governments have available tools to limit the Kremlin’s war budget. They can do this by plugging the gaps in sanctions against Russian oil and gas exports—and severing a critical revenue stream supporting the Kremlin’s war machine.

The main distinction with the US-UK approach is that the EU operation does not envision any participation in strikes against the Houthis.

Recent attacks on commercial shipping in the Red Sea are a reminder that a major disruption to freedom of navigation would hold many negative consequences.