Inflation is driving up gasoline prices in the US. Tough sanctions against Russia are likely to reinforce this development.
(Photo: Reuters)
Berlin, Brussels Americans have not experienced such a price surge in 40 years: their lives increased by 7.5 percent in January. High inflation is not just a domestic problem for US President Joe Biden. It also restricts his foreign policy space – and significantly more than Washington is willing to admit.
The US government has threatened Russia with tough sanctions if it attacks Ukraine. Biden’s party colleague Bob Menendez compiled a list of economic penalties that he describes as the “mother of all sanctions.” The focus is on blocking capital against Kremlin-affiliated banks and a comprehensive technology embargo.
But the Americans shy away from what is probably the most effective measure: a boycott of Russian gas and oil exports.
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