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Biden’s Sanction Snag

by Market FinancePosted onFebruary 25, 2022February 25, 2022

Here’s why Biden can’t be tougher on Russia.

During a recent interview with Fox’s Laura Ingraham, Republican Senator Tom Cotton told viewers President Biden is unable to sanction Russia harder by not going after Russia’s oil and gas supplies because Biden is afraid it will add to inflation that has already spiked due to his past decisions.

Cotton also explained that President Biden has given America’s European allies veto power over U.S. sanctions.

In transcript provided by Breitbart, Cotton stated, “President Biden has ceded the veto pen to our European allies on the kind of sanctions we impose. You mentioned kicking Russia out of the international banking system known as SWIFT, apparently, there are some European nations, like Germany, that don’t want to do that. So, we’re not going to kick them out of SWIFT. Likewise, oil and gas are Russia’s two largest exports.”

Cotton then explained, “Europe is, in many cases, beholden to Russian oil and gas. Moreover, Joe Biden’s reckless energy policies have already driven up the price of oil and gas over the last year. So, even he and his administration is admitting they don’t want to impose oil and gas sanctions on Russia. Because they’re afraid it’s going to add to the inflation they’ve already created. Well, how about we impose those sanctions, but we lift all those restrictions on the production of American oil and gas so we can start drilling on federal lands again and putting out new leases. So, we can reopen the Keystone pipeline, which will bring more oil into America every day from Canada than we import every day from Russia. That’s what we should be doing.”

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