Vladimirkarp/Shutterstock Save for later Print Download Share LinkedIn Twitter The US and Europe are relying on the threat of sanctions to deter Russian escalation in Ukraine. US President Joe Biden has a relatively free hand to apply sanctions, and the US’ still-outsized role in the global economy adds bite to Washington’s measures. The dynamic is different in Europe, which relies on Russia for natural gas and oil, and has broader investment ties. In addition, any sanctions require consensus among all 27 members. Below, Energy Intelligence outlines some of the mechanisms that could be enacted in the event of a Russian invasion — and their impact on the energy sector.
