Word: embargoing
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Dates: during 1980-1989
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...major event in energy of the 1970s was the first oil shock, which resulted in the quadrupling of world oil prices and fundamentally changed the outlook for energy supplies. In effect, the 1973-74 Arab reduction in oil output and embargo transformed Middle East oil from a low-cost, secure supply to a high-cost, insecure source. That event meant that the United States needed to adopt an energy policy that would recognize the increasingly higher value and cost of energy supplies...
President Carter's imposition of a grain embargo on the Soviet Union drew a mixed reaction yesterday from Harvard political experts...
...embargo will lower the standard of living in the Soviet Union, and will make clear to them that they must pay a heavy price for military interventionism," Eckstein added...
...grain embargo is largely a "symbolic gesture," because the Soviets will have a sufficient supply of grain from their own stockpiles and from indirect purchases from third parties, May said...
...embargo will permit the Soviet Union to buy only what remains of eight million metric tons of grain the U.S. is obligated to sell them. The U.S. will withhold an additional 17 million tons promised to the Soviets...