-
Embargo Iran
From robinjbrooks.substack.com
The single biggest failure of the Biden administration is that - in confronting Russia over its invasion of Ukraine - it feared that forceful action on sanctions could cause a spike in oil prices that might result in the Democrats losing the 2022 midterms. A full embargo of Russian oil would certainly have spiked oil prices, but we don’t know how long such a spike would have lasted. An embargo would have pushed Russia into deep financial crisis. The Ruble would have gone into a devaluation spiral, inflation would have soared and economic activity would have collapsed. We don’t know if this would have ended ... (full story)