THE SQUIZ

International outrage over alleged war crimes in Ukraine continues to grow as more evidence emerges of Russia’s campaign of terror in the outskirts of the capital Kyiv. In response, the West has imposed harsh new sanctions against President Vladimir Putin and the Russian economy. US Secretary of State Antony Blinken said Russia should be punished for its “deliberate campaign to kill, to torture, to rape, to commit atrocities.”

WHAT HAPPENS NOW?

The US, in coordination with its allies, has turned up the economic pressure through a ban on all new investment in Russia. The US has already started blocking Russia from making debt payments using its dollars held in American banks, and that could see it default on its loans, which is bad. The new sanctions target Russian President Vladimir Putin’s inner circle, including Foreign Minister Sergei Lavrov and the President’s 2 daughters, who the Biden administration believes could be in control of some of their father’s hidden assets. The UK has also imposed further measures against 8 oligarchs and Russian banks. And Europe wants to ban Russian coal imports – but not oil or gas. That stops short of some of the demands from Ukraine. Earlier this week, its Foreign Minister Dmytro Kuleba tweeted that in order “to avert ‘new Buchas’, impose the mother of all sanctions: stop buying oil, gas and coal from Russia.” Bucha is the city where many of the recently discovered alleged Russian atrocities have occurred.

WHY IS ENERGY SUCH A BIG ISSUE?

Because Europe relies on so much Russian energy. Statistics show that Europe imported less than 20% of its coal from Russia, but 35% of its oil and 40% of its natural gas. That’s a lot of businesses/homes/industries that rely on Russian fuel… But expanding the boycott is not off the table… Yesterday, European Commission President Ursula von der Leyen said that oil could be next but wouldn’t commit to a timeline. Reports say that Germany doesn’t want a gas embargo, and Austria’s Finance Minister Magnus Brunner said that sanctions “must not affect us more than Russia.” Cutting Russian coal is the first move by the EU to block its energy exports since the invasion, and analysts say the reason they’ve gone there is because it’s the easiest source to be replaced. Meanwhile, NATO Secretary-General Jens Stoltenberg has warned that Russia is regrouping for its next attack in eastern and southern Ukraine for a “crucial phase of the war”.