Biden will use Ukraine crisis to halt clean energy transition
Experts have it that the current US administration may exploit spillover energy concerns as a pretext to delay the promised transition to renewable energy in the US.
According to Mona Ali, associate professor of economics at SUNY New Paltz, the current US administration may exploit the deepening of the Ukrainian crisis and spillover energy concerns as a pretext to delay the promised transition to renewable energy in the US.
On Thursday, the United States imposed export controls on Russia's defense, aerospace, and marine industries in response to the military operation in Ukraine. At the same time, according to White House Spokesperson Jen Psaki, the possibility of slapping US sanctions on Russia's energy sector is not off the table.
Ali told Sputnik that the crisis "will only deepen the pockets of the global oil and gas industry, it will give the Biden administration further reason to delay the transition to clean energy here in the United States."
According to the economist, the US purchased more Russian gas and refined petroleum products last year than any other country, and cutting off its petroleum supplies is comparable to "axing its own foot," adding that exempting Russian energy exports from US sanctions to "stabilize fossil-fuel prices and financial markets in the West is the shape of the unfolding geopolitics."
On Saturday, the US President defended his sanctions against Russia.
During an interview, he said, "You have two options: start a third World War, go to war with Russia physically. Or two, make sure that a country that acts so contrary to international law ends up paying the price."
The European Union had agreed Friday to freeze European assets linked to Russian President Vladimir Putin and Foreign Minister Sergei Lavrov over Moscow's operation in Donbass.
Russia has its way of curbing these sanctions, though, via cooperation with China and using the roble and yuan in exchanges rather than the USD.