This is exactly how we should be responding to every one of Putin's threats and red lines. Remember when Macron promised to evacuate the civilians from Mariupol and chickened out. Staring Putin down on this one will be an important and healthy experience.

We're going to make an attempt in three weeks, in a report we've been putting a lot of effort into in the past months with Xing Zhang Xinyi Shen. It's a humbling task but I'm convinced we're going to give the most detailed and fact-based picture to date.

New: why the EU's ban on imports and shipping of Russian oil will be effective in cutting the country's export revenue, if properly implemented. Russia has gradually diverted exports away from Europe, but we retain enough leverage to push down earnings.
energyandcleanair.org/is-russia-read…

Slightly more precise dissection. The crude oil ban on Dec 5 will have a significant impact, but the oil products ban on Feb 5 seems potentially even more impactful. Product tankers are smaller and the market is shallower so diverting exports will require even bigger discounts.

News from the real world: bloomberg.com/news/articles/…

Ban all ships that touch Russian fuels from entering any European or G7 port, forever.

Sanction all the technology, spare parts, maintenance, support and financial flows that were exempted to preserve access to Russian fossil fuels.