The World Is Still Hooked on Russian Energy — at Its Own Peril

October 21, 2024

Two and a half years into Russia’s war in Ukraine, the Western effort to wean Europe off of Russian oil and gas and isolate the Kremlin has stalled. The E.U.’s much lauded energy transition has kept apace, but it has also provided cover for continuing and in some cases increasing purchase of Russian energy that is funding its ongoing assault on Ukraine. The result is an unbowed President Putin, an acute foreign policy failure for President Biden, a geopolitical power shift in favor of the U.S.’s adversaries, and a bleak outlook for Ukraine.

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