Soaring oil prices could constrain the ability of US to crack down on Putin

Efforts by the US to inflict economic pain on Russia in retaliation for its invasion of Ukraine could be hamstrung if sanctions drive an increase in energy prices.

The US is the world’s largest producer of crude oil and natural gas, but for oil in particular, prices are set on the global market. Early on Thursday, Brent crude topped $105 a barrel as Russian forces invaded Ukraine.


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