The United States and its European allies are finalizing a package of sanctions against Russia that will include hits to the country’s lucrative energy industry. The accompanying infographic shows the sanctions that have come down against the Kremlin so far.
However, business groups in the U.S. and EU oppose any new measures against the Russian economy, saying that any anti-trade policies would also hurt businesses in the countries imposing the sanctions. The situation becomes even more desperate when considering news from Iraq that terrorist militants are attempting to take control of the country’s largest oil refinery. The global energy industry is on the brink of disaster.