"Promising to gradually curtail future Russian energy exports to the EU raises uncertainty about future supply and boosts the price of oil now."
"Europe is fighting a war against itself in Ukraine, and the only way to end it is to stop all oil imports from Russia for at least 45 days."
"The fact that they are buying more than before the invasion suggests that it's not just because of long-term contracts."
"The only logical next step is ... to prohibit all Russian oil and oil product exports, and to make it illegal to carry such cargo."
"The United States, Europe, and their allies have all the tools needed to end Russia's energy leverage."
This is a unique moment: "It's driven by empathy and is driven by looking at what is happening to another people quite a long way away ... "
Oil transports out of Russian ports expose a major weakness in the U.S. embargo allowing Russians to take advantage of higher oil prices.
"Europe and the US ... currently pay Russia upward of $1 billion per day for oil and natural gas. ...Such payments fund an evil war machine …"
"As the conflict continues, the daily flow of cash has remained about the same. "
Simon Johnson discusses the nomination of Sarah Bloom Raskin to the Federal Reserve and the role of climate in the Fed's regulation of banks.
