Reports are circling that the Biden Administration has begged Germany to hold off on banning Russian oil until after the midterm elections. The Democrats are so desperate to win amid their record-low popularity that they are openly asking other nations to alter major policies at the expense of the people. Biden has banned Russian energy imports, but the EU, which is more reliant on Russian energy, must wait.
Banning Russian energy will backfire on Europe and send aftershocks throughout the market. German Foreign Minister Annalena Baerbock initially announced that Germany would cease purchases from Russia but quickly changed her stance. Finance Minister Christian Lindner said that Germany would support Ukraine but not at the expense of the German people. “It was a mistake that Germany became so heavily dependent on energy imports from Russia,” she admitted after avoiding warnings years ago.
