The EU's response to Russia’s invasion of Ukraine has been divided on energy, which may pose challenges for European unity. This column discusses several proposals to make sanctions more effective and cheaper for European households and firms. It argues that a temporary import tariff on Russian oil along with a price cap on Russian gas would be an effective and feasible option. The import tariff would promote substitution to alternative sources, while the price cap would remove the high uncertainty about future price spikes. To get through the winter, common energy buying, saving, and sharing arrangements need to be agreed and tested now.
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