Opinion

Energy embargo with announcement

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Published: March 25th, 2022,
Last updated: May 28th, 2025

By Lukasz Rachel and Moritz Schularick
Lukasz Rachel (left) is a Research Fellow in Economics at Princeton University. Moritz Schularick is Professor of Economics at the University of Bonn and Sciences Po.

Russia’s brutal shelling of Ukrainian cities continues. Thousands die; millions suffer. But as for further action, the West remains paralyzed on the most important issue: sanctions on Russian energy exports. Until there is an immediate and complete boycott of Russian gas and oil by Western countries, the best course is to announce phased sanctions that will be implemented gradually over the coming weeks.

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Energy Natural gas