Varney on Biden’s handling of Russia-Ukraine crisis: It’s time to consider ‘banning’ Russian energy exports
Shell becomes latest oil giant to pull out of Russia amid ongoing invasion in Ukraine
Stuart Varney on Russia-Ukraine crisis: It’s time to consider ‘banning’ Russia’s energy exports
FOX Business host Stuart Varney argues Biden 'has an ideal opportunity to pile on the pressure' as Russian invasion continues.
"Varney & Co." host Stuart Varney discusses the Russian invasion of Ukraine as peace talks between the two countries fall through, arguing "it's time" for President Biden to consider "banning" Russia's energy exports during his "My Take" Tuesday.
STUART VARNEY: Just look what Putin has done.
He’s invaded a peaceful neighbor. Destroying cities, killing civilians and, it’s not over: This morning the Russians announced they would continue their 'operation' until their goals are met.
He’s using cluster bombs and vacuum bombs in urban warfare. The brutality will continue.
That means the ball is now back in our court
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Time to consider what’s being called ‘the nuclear option.' That is, banning Russia’s energy exports.
We stop buying oil from Russia. Europe stops buying its gas. Catastrophic for Putin.
The Wall Street Journal estimates that he gets $650 million a day from his energy exports. That cash funds his aggression.
Cutting off the cash squeezes Putin’s economy even more.
And that’s the objective.
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Severe sanctions will not make Putin withdraw his troops, but they can give him a financial problem back home. A problem big enough to mount a challenge to his regime.
In fact, that’s what the ‘nuclear option’ is all about. Regime change!
President Biden has an ideal opportunity to pile on the pressure. He could announce an end to Russian oil coming here.
Yes, the price would go up, and so would gas prices. But if he also raised America’s oil and gas production, long term, we’d all be a lot more secure.
It’s crunch time. We’re going to find out what kind of wartime President Joe Biden really is.