Unfortunately for Biden, it’s a tactic that’s unlikely to work. As he witnessed from the other end of Pennsylvania Avenue more than four decades ago, rampant inflation has the potential to steamroll the political fortunes of presidents in both parties — and it’s difficult for them to use geopolitics as a way out.

It’s certainly the case that there will be some economic impact on Americans that Biden can credibly attribute to the steps he’s taking in response to Russia’s war. On Friday, Biden called for suspension of normal trade relations with Russia, which, if approved by Congress, would bring the U.S. into line with sanctions already imposed on Russia by the European Union and Group of Seven industrial nations.

Biden said the U.S. will also bar imports of Russian diamonds, seafood and vodka, which comes on top of a sweeping ban on Russian oil, natural gas and coal, and the imposition of sanctions on certain Russian banks. That includes expulsion of many Russian banks from SWIFT, the financial global messaging network, which is effectively the backbone of world commerce.

The negative economic consequences of these actions for Amerricans are likely to be limited, however, since Russia isn’t a key U.S. trading partner.