Russia has reportedly prepared package of retaliatory sanctions

This is where things will start to get interesting and if Russia begins to cut off supplies, that would really induce quite a headache for Europe mostly. Both TASS and Interfax are reporting on the matter, saying that Russia is going to be targeting the 'weak spots' of the West.

At this stage, with the EU being relatively afraid, I reckon Russia might just spare their blushes and not go down too hard on the sanctions. But we'll see. If anything else, the US will be targeted harder but also less so impacted.

My take is that if there is no SWIFT action against Russia then there will be no Russian retaliation against energy supplies to the EU.

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