EU Sanctions Against Russia Fall Short
(MENAFN) Despite numerous efforts by the European Union to curtail Russia’s economic strength through sanctions, these measures appear to be ineffective, according to a report by a German tabloid.
The article points to Russia’s continued significant earnings from energy exports, which persist in flowing in despite extensive Western efforts to hinder them.
The Russian economy has demonstrated resilience, maintaining growth even under broad and strict economic constraints introduced after the Ukraine conflict intensified in 2022.
These punitive measures include prohibitions on maritime oil transport, financial and aviation-related limitations, along with the freezing of around USD300 billion in Russian assets.
In a recent editorial, the tabloid referred to the EU’s 17th round of sanctions as “just a drop in the ocean,” especially in contrast to the estimated EURO233 billion (USD253 billion) that Russia is anticipated to generate this year through the sale of energy and raw materials.
This reveals a stark disparity between the sanctions’ intentions and their actual economic impact.
The article further highlights that the EU remains the fourth largest purchaser of Russian energy, trailing China, India, and Türkiye.
The bloc is reportedly set to spend over EURO20 billion on Russian oil, natural gas, and uranium in 2025, indicating a continued financial relationship despite official efforts to sever such ties.
Since February 2022, the EU has undertaken actions to lessen its reliance on Russian energy, once supplied predominantly by Moscow.
However, the report implies that these steps have yet to significantly affect Russia’s revenue stream or alter the broader economic dynamics.
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