(T.E.T)
The oil shock is set to intensify with Joe Biden’s decision to ban Russian energy imports, tightening economic sanctions after Russia’s invasion of Ukraine. Prospects of unilateral US action, in consultation with European allies that depend on Russian oil and gas exports, pushed up crude oil futures. Russian energy supplies had, till now, escaped sanctions imposed by the US and European countries as they tried to limit supply disruption. The first retaliation against Russia’s
