Russia is making heaps of money from oil, but there is a way to stop that
The United States and its allies are leaning heavily on economic sanctions to punish Russia for its invasion of Ukraine. But a key element in that strategy, restrictions on Russian oil exports, mostly appears to be causing pain for ordinary people in other countries. European nations, in particular, are causing considerable damage to their own economies without reducing Russia’s oil revenue.
Nations seeking to help Ukraine have focused on reducing Russia’s energy exports instead of reducing Russia’s earnings from energy exports. Russia is exporting less oil but, in a perverse...