President Joe Biden spoke to the leaders of close allies about the tense situation surrounding the Russian-occupied Zaporizhzhia nuclear plant in southeastern Ukraine, according to the White House.

With international concerns about the nuclear power plant being the epicenter of a major disaster escalating in recent weeks as both Russian and Ukrainian forces accuse each other of shelling the plant, Biden spoke with President Emmanuel Macron of France, Chancellor Olaf Scholz of Germany, and Prime Minister Boris Johnson of the United Kingdom, affirming “their continued support for Ukraine’s efforts to defend itself against Russian aggression,” said a readout from the White House press office on Sunday.

“They also discussed the situation at the Zaporizhzhya Nuclear Power Plant, including the need to avoid military operations near the plant and the importance of an IAEA visit as soon as feasible to ascertain the state of safety systems,” the readout added. Iran’s nuclear program and stability in the Middle East were also discussed, per the readout.

U.N. Secretary-General Antonio Guterres warned earlier this month that shelling the plant is “suicidal” and expressed hope that the International Atomic Energy Agency, the U.N. nuclear watchdog, will be able to access the plant. (Read more from “Biden, World Leaders Discuss Need for Ukraine Nuclear Plant Inspection” HERE)

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Despite repeated assurances from President Biden and other Western leaders that “the toughest economic sanctions in history” would cripple Russia’s economy and starve its war machine, that hasn’t happened. Russia’s current account, which measures global trade in goods and services, was strong in the second quarter of this year when its trade surplus rose to a record $70.1 billion. The ruble, too, has exhibited remarkable resiliency, ranking as the strongest performing currency so far this year, rising to its highest level against the euro since 2015 and making major gains against the dollar.

What accounts for Putin’s bulging coffers? The simple answer: high commodity prices and Russia’s continued ability to export oil, gas, grain, and even gold to non-Western countries.

The economic picture isn’t as rosy for the countries sanctioning Russia. Europe is struggling to meet its energy needs, driving up inflation and forcing countries at the vanguard of the green movement to backpedal. Germany, for example, whose minister of economic affairs and climate action comes from the Green Party, was forced to reactivate seventeen coal-fired power plants it previously had shut down. President Biden, with inflation sitting at a forty-year high, recently begged Saudi Arabia’s leaders—a regime it had been shunning—to come to the rescue by pumping more crude to help bring down gas prices and ease the inflationary pressure high fuel prices are placing on other goods.

. . . The combination of sanctions and war disrupted energy and grain supplies, creating an economic opportunity that Russia has exploited. Indeed, according to the Helsinki-based Center for Energy and Clean Air, Moscow earned $100 billion in revenue from oil, gas, and coal sales in the first three months of the war alone.

While the Biden administration was drawing down the Strategic Petroleum Reserve to increase available supplies and lower gasoline prices—plunging America’s emergency reserve to its lowest level since the mid-1980s—Russia’s oil exports had bounced back to pre-war levels by May. (Read more from “Another Catastrophic Biden Failure: Russia Rolling in Cash Due to Ukraine War, Sanctions” HERE)

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