The EU is Russia's largest trading partner, by far. Sanctions could hurt it badly.

[Playinghardball]

RFE/RL @RFERL
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The EU is Russia's largest trading partner, by far. Sanctions could hurt it badly. http://bit.ly/1kqv1qo

Found on the Obama Diary

[elleng]

1. Yes, don't doubt it.

[muriel_volestrangler]

2. Yes, but most of that is oil and gas

which the EU is not going to be able to cut off without severe pain to itself. It might be able to encourage the companies that import to take less, if there are alternative sources, but that would only happen if the alternatives can match the price of the Russians.

[Spider Jerusalem]

3. The problem:

World oil production is 92.8 million barrels a day (that includes refinery gains, natural gas liquids and condensates). Global demand is 92.7mbpd (figures per IEA). There's not enough spare capacity anywhere to make up for taking Russia's 10.4 million barrels a day out of the equation. Europe's oil demand is around 13 million barrels a day and 84% of Russian oil goes to Europe. And sanctions on Russian oil and the need to make up for it elsewhere are only going to drive up the overall price of oil on the world market.

[Cal33]

4. If this doesn't drive everyone to finally start switching over to non-fuel energy

(solar, wind......etc.........), What will?

[Wounded Bear]

5. Been saying that since the 70's...

Sadly, it hasn't happened yet.