STO - Brave new world, page-14

Russia is the world's biggest supplier of natural gas- & the world's second biggest supplier of oil. It is also a major producer & exporter of coal to the EU etc. (not sure where it ranks).
Following its brutal & bloody invasion of Ukraine, western countries are increasing thier sanctions (which, IMO, will last for many years- Russia cannot, obviously, be trusted).

I hope Russia withdraws immediately from Ukraine, its leaders are imprisoned for being war criminals, & it & pays full damages for the human & material losse sit has created- but this is unlikely.

bbc.com 8.3.22

The USA is planning now to ban Russian oil imports etc.

The EU & Britain (&, I assume, most other countries alligned too the West) are planning to totally divest themselves, eventually, of Russian energy imports ( 30-50% come from Russia).

"EU to propose phasing out Russian energy

Getty ImagesCopyright: Getty Images

The European Union has drafted plans to diversify its energy supply and phase out its dependence on Russian oil, gas and coal imports.

The bloc currently imports nearly half of its gas and coal, and about a third of its oil, from Russia.

EU leaders will discuss the proposed phase-out this Thursday and Friday at a gathering in Versailles, France.

A draft statement reportedly refers to Russia's invasion of Ukraine as "a tectonic shift in European history".

It sets out an objective of "reducing our dependencies and designing a new growth and investment model for 2030" by accelerating the development of renewables as well as by diversifying energy supplies and routes.

Other Western leaders are also scrambling to prepare for potential shocks to global energy markets.

Earlier on Monday, British PM Boris Johnson urged a "step-by-step" move away from dependence on Russian oil and gas.

The US, which imports about 8% of its oil from Russia, has recently been trying to cut deals with major oil-exporting nations like Saudi Arabia, Venezuela".

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The very likely ban on Russia's huge energy exports will cause a shortage- & is very likely to further increase oil & gas prices.
The resultant shortage of oil & gas will greatly improve STO's business case, & ultimately, profitability.

And did anyone mention that oil & gas is now even MORE essential, to meet the world's near & mediate term energy needs- since Russian huge energy exports will be, progressively, banned. by most western countries.