Blinken argued that sanctions would drive up the cost of oil and provide Russia more short-term benefit.
Blinken echoed the administration’s caution on the matter, arguing that short-term impact might actually help Russia and hurt America. United States Secretary of State Antony Blinken speaks as he greets embassy staff at the U.S. embassy, in Kyiv, Ukraine, Wednesday, Jan. 19, 2022.White House press secretary Jen Psaki speaks during a press briefing at the White House, Wednesday, Feb. 16, 2022, in Washington.
"The sanctions are designed … to have maximum impact on Russia and Putin while minimizing harm to us and our partners," Blinken told reporters."There’s no strategic interest in reducing the global supply of energy." "The immediate effect would be to raise prices at the pump for Americans and to pad Russian profits with rising profits," he argued, adding that the U.S. is working to undermine Russia’s ability to maintain a role as a leading energy provider.
Such targeted sanctions include cutting Russia’s access to vital technologies that would allow it to continue developing its energy capabilities as well as cutting off the Nord Stream 2 pipeline to stagnate and limit Russia’s growth as an exporter. But these sanctions will take time to have full impact despite the Biden administration touting the still-tumbling ruble as evidence of near-term impact.
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