Substantial support for the oil and gas embargo

16 April 2022, 15:13 | Markets
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Without a doubt, a complete embargo on Russian oil and gas is an ultra-modern economic weapon.. There is no doubt that soon it will be fully applied to the aggressor country.. But there is also no doubt that for the maximum effectiveness of this murderous measure, which can really radically reduce the revenues of the state budget of the Russian Federation, we must accompany it with a number of supported measures..

This is in addition to what is already acting against the aggressor country: the assets of the Central Bank of the Russian Federation have been frozen, SWIFT has been disabled for the vast majority of Russian banks, import and export restrictions have been imposed, air traffic has been suspended, Russia is forbidden to use the seaports of most countries of the world, etc..

All this is already working and causing significant damage to the Russian economy, destroying supply chains, limiting access to cheap resources, causing a massive outflow of investments and international companies from the Russian markets, causing unemployment.

It would seem that there is still something missing, except for a complete refusal to purchase toxic Russian oil and gas? How to highlight the much-needed trade embargo?

It is necessary to introduce a full-fledged regime of secondary sanctions - the punishment of various businesses and government agencies in third countries that have not joined the global sanctions for interaction, including indirect, with sanctioned sectors of the Russian economy.

Deprive Russia of FATF membership under the accelerated procedure and blacklist it as a terrorist state by the FATF. This will significantly complicate the relations of the Russian Federation with different countries of the world, make relations with it toxic even for countries that have not joined the sanctions..

To ban the export to the Russian Federation of not only high-tech, in particular electronic, components, but also equipment and software for their production, and raw materials used in such production, as well as equipment for the extraction of minerals, and subsequently any high-tech equipment. Also prohibit the export (including from third countries) of finished products containing such components in their composition.

Enlist the help of influential insurance associations such as Insurance Europe, American Insurance Association and Society of Lloyd's. Their members must understand the toxicity of cooperation with Russia and stop insuring or reinsuring any risks of Russian insurance companies, risks of the interests of any resident subjects of the Russian Federation.

Establish communication channels with Arab countries - the largest oil exporters (Saudi Arabia, UAE, Iraq, Kuwait, Qatar, etc.). ) to disseminate truthful information about the situation in Ukraine. They must understand the threat Russia poses to global security and help accelerate the end of the aggression by increasing oil production..



To prohibit access to sea and river ports of the countries of the world for any goods originating from the Russian Federation and ships with a crew/crew from the Russian Federation, to attract the help of the world community for this.

It is the implementation of the oil and gas embargo, together with the additional measures listed above, that will make it possible to almost halve revenues to the state budget of the Russian Federation, which, as a result, will minimize Russia's ability to finance the continuation of the military campaign in Ukraine.

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