July 7, 2022
Last week the U.S. and Europe loudly proclaimed their everlasting support for Ukraine at both the G7 meeting and NATO summit. So far money and arms continue to flow to Kiev.
However, just as Ukraine’s backers were pleasantly surprised at that nation’s stout defense against Russian aggression, they are increasingly discomfited by the failure of sanctions to wreck Moscow’s economy. The push to end Russian energy exports has proved especially counterproductive, slowing European economies while raising both global energy prices and Moscow’s export earnings.