Europe is Russia's biggest export regionThe situation between Russia and Ukraine has not slowed down, although Russia announced the opening of humanitarian corridor in Ukraine today, but currently Russia and Ukraine have not set the next negotiation date, the chance of a truce between the two sides, the market risk aversion continues to rise, the US stock market closed down sharply overnight, Asian stock markets continued to open down this morning, gold, the dollar continued to strengthen.The United States and the United Kingdom announced a ban on the import of Russian oil, liquefied natural gas and coal, and Russia immediately announced trade countermeasures to restrict the import of some commodities and raw materials.However, the European Union, including Germany, France and Italy, did not participate in the sanctions.From the figures, in fact, this time the United States sanctions on Russia have little impact on Russia, more posture sanctions.According to Bloomberg, Russia accounts for only 3% of US crude oil imports in 2021, and the US itself is already an LNG exporter and will not import LNG again after 2019, which means that Russia's exports and economy are not much affected, and therefore crude oil prices did not rise again on a large scale yesterday. It is still hovering near the $120 mark.In fact, the European Union is Russia's largest energy exporter. In 2019, 27 percent of Europe's crude oil imports came from Russia and nearly 45 percent of its natural gas imports came from Russia. In other words, if Europe joins the sanctions, it is possible to deal a massive blow to the Russian economy.Russia sees the moment. The EU is in a dilemmaOver the past period of time, countries around the world, including Western countries, have been constantly calling that the outbreak of the war is related to the inadequate sanctions of Western countries.After Russia officially sent troops to Ukraine, Western countries at first only imposed economic sanctions on important Russian political and economic figures, and later officially excluded Russian banks from SWIFT, which were obviously escalated by the pressure of world public opinion. Until today, the United States and Britain finally announced the imposition of crude oil import sanctions against Russia, which is actually the focus of public opinion in the past week, but also the real pain point of the Russian economy.For Russia, the decision to send troops to Ukraine in the winter of 2022 is closely related to the current high price of crude oil in the past 10 years, because Europe is heavily dependent on Russian energy imports, coupled with high energy prices for Russia to provide a strong economic cornerstone, Russia can be said to see the time to send troops, trapped in Europe in a dilemma.But the problem is that in the end both the US and the UK announced sanctions against Russia's real economic lifeline, apparently leaving the problem to the EU to deal with unilaterally.And if the situation between Russia and Ukraine does not calm down or even deteriorate for some time to come, the public pressure on the EU to impose stronger sanctions or even send troops will be greater.Although Russia is very important to European energy supplies, due to public pressure, if the real sanctions are implemented, crude oil prices in the short term further to $200- $300 / barrel is not impossible.Technically, from the monthly and weekly charts, after US crude oil broke through the $120 mark, the next key resistance has been at the all-time high of $140, while the key support below is at the $105 position, it seems that with the support of fundamentals, crude oil prices will hover above $100 for some time to come.