Conscious uncoupling

The Economist publishes a detailed analysis of Europe’s dependence on Russian energy, noting that political excitement about the idea of America’s shale gas helping Europe out tends to overlook the practical difficulties. However, the article notes, Europe and the US do have considerable leverage, if they choose to exert it. Rosneft would be badly damaged if it were to be delisted on the London and New York stock exchanges. Financial sanctions could also make it hard for Russia to sell its oil to third parties.

Friday, April 4, 2014