Surprise

"The US administration and its European counterparts did not expect the economic pressure from sanctions on Russia they now are experiencing. Despite initial assurances that sanctions would not touch Russian energy exports, America has since banned imported Russian oil, and the European Union has announced plans to reduce its imports by 90 percent this year. Partly as a result of those actions, energy prices have surged in the U.S. and Europe, with regular gasoline averaging well above $5 per gallon in some states.

Now Mr. Biden is bracing for midterm elections this fall in which Republicans are likely to capitalize on the rising cost of living. Summer’s end will also bring cooler temperatures to Europe amid rising alarms that Moscow is choking off natural gas supplies.

And in a stinging twist, the sanctions and related embargoes are allowing America’s top strategic competitor, China, to buy massive amounts of oil at heavily discounted prices, as Russia seeks willing customers to replace lost revenue."