Previous Post They've been sanctioned since USSR. The worst that will happen would be higher gas and wheat prices for the rest of the world.

They have been, but to varying degrees since then. Oil prices were going up before the deal with Russia even started and this does not help it much.

I know the US reached out to the Saudi's and OPEC to increase production to help offset but they are not really into that sort of thing. One would think the Saudi's owe a favor but whatever.

And I know in the US the shale boom ended when prices dropped ironically, as many of the fly by night companies had to run an expensive process and the margins evaporated unless oil was expensive.

I guess in some ways it puts positive pressure on renewables but they are not in a place to do the heavy lifting as of yet although progress has been made, but it is a rough situation for sure.

However, intense sanctions on Russia seem like the right thing to do to avoid even further blood shed, but those historically have mixed results as well. The people suffer, but ideologs in power are fine with that. Look at North Korea as an example, although Russia was more integrated into the world and needs the trade, so it is hard to imagine them just ignorning that pressure long term or even short term.

IMO.