In the face of Russia's aggression in Ukraine, Europe’s leaders have been scrambling to devise “smart sanctions” – measures that inflict maximum pain on Russia and minimal pain on the EU. A tariff on gas imports from Russia has a lot to recommend it.
FLORENCE – As Russian forces continue to shell civilian areas of Ukraine indiscriminately, the question of whether the European Union – or individual member states – should ban gas imports from Russia is becoming increasingly urgent. While the United States has already taken that step, a ban in Europe – which purchased nearly three-quarters of Russia’s natural-gas exports last year – would do far more damage to Putin’s war effort.
FLORENCE – As Russian forces continue to shell civilian areas of Ukraine indiscriminately, the question of whether the European Union – or individual member states – should ban gas imports from Russia is becoming increasingly urgent. While the United States has already taken that step, a ban in Europe – which purchased nearly three-quarters of Russia’s natural-gas exports last year – would do far more damage to Putin’s war effort.