Biden's late sanctions on Russian energy face expert critique
As Joe Biden's term came to a close, the White House announced sanctions on the Russian energy sector to increase pressure on Russia. However, experts suggest these measures were introduced too late and that further steps are necessary.
In the final days of Joe Biden's administration, comprehensive sanctions were imposed on more than 400 entities connected to Russian energy, including Gazprom Neft and Surgutneftegaz. These companies are responsible for a significant portion of Russian oil exports, and the sanctions impact every stage of trading this resource.
Sanctions were needed earlier
Dr. Benjamin L. Schmitt from the University of Pennsylvania assessed in an interview with the Polish Press Agency that the new restrictions, although significant, came too late. He noted that if these actions had been implemented at the beginning of the conflict, they could have had substantial economic impacts on Russia.
The expert noted that Friday's actions, as the Biden administration comes to an end, were a positive move to significantly increase energy sanctions pressure on Putin's Kremlin after nearly three years of war in Ukraine. However, he argued that such measures should have been implemented at the war's outset. Proper enforcement, he added, might have already had macroeconomic effects on Russia's economy and potentially compelled it to rethink its aggression toward its democratic neighbour.
After taking office, Schmitt called on the Trump administration to continue increasing the pressure and not stop at the current sanctions.
Schmitt emphasized the importance of exerting maximum sanction pressure to achieve a just and lasting peace in Ukraine. He suggested that the Trump administration should promptly expand the latest sanctions after office. This, he noted, would signal the United States' commitment to Europe's security and its readiness to take decisive action.
Reaction from diplomats
Daniel Fried, a former US ambassador to Poland, noted that the timing of the sanctions is linked to the growing oil production in the USA and the post-election period. In a conversation with the Polish Press Agency, he expressed that the new sanctions could significantly impact the Russian economy and should be immediately utilized by the latest White House occupants.
