White House: Sanctions not intended to reduce Russia's ability to supply energy

It's been speculated for a time whether or not the US and its allies would sanction Russian oil and gas. Here's your answer. The EU appeared to be dead against it.

This is negative for oil and gas.

The full comment from the White House's Deleep Singh:

"US measures are not designed to reduce or impair Russia's ability to supply energy to the world but we think it'd be a strategic mistake for Putin to weaponize his energy supply because it will accelerate world diversification away from it"

So the US and Europe is more worried about Putin hitting back on other sanctions by limiting oil & gas exports.

Along along with USD/CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i Read this Term are unmoved by this.

Update: Singh also says the US won't attempt to remove Russia from SWIFT.

So what is really at stake here? Some individual sanctions and sanctions against Russian banks? That might be tough for them but is it really a factor for the global economy.