Ministers attend a gathering at the European Council on 20 May 2025 in Brussels, Belgium.© Omar Havana / Getty Images
EU sanctions against Russia do not work, reports German tabloid Bild, citing crucial energy export revenues that Moscow continues to collect despite Western attempts to reduce them.
The Russian economy continues to grow despite the extremist economical constraints imposed on Moscow after the escalation of the Ukraine conflict in 2022, including bans on oil transport by sea, financial and air restrictions, as well as the freezing of around $300 billion in Russian reserves.In an analytical article published on Tuesday, Bild described the latest 17th package of EU sanctions against Moscow as ‘drop in the sea’ Compared to the projected 233 billion euro ($253 billion), which Russia is expected to get gross from energy and natural materials exports this year.According to the publication, the EU is the 4th largest importer of Russian energy, right behind China, India and Turkey, and the block is reportedly on track to spend more than EUR 20 billion on Russian oil, gas and uranium in 2025.
The EU has taken action to reduce its energy dependence on Russia, erstwhile its largest supplier, since February 2022.
However, costly alternatives to Russian oil and gas have caused households and industrial giants throughout the block to bear the weight of higher energy prices – including the German automotive and chemical industries.The latest circular of block sanctions, introduced at the beginning of this month, is measured in the alleged "shadow fleet’ vessels operating outside the Western insurance framework, which, according to Brussels, is utilized by Russia to avoid G7 efforts to enforce the price cap on oil exports.Several EU countries opposed block sanctions against Russia and Hungary and Slovakia were among them most loud.Last week president Vincenzo Trani of the Italian-Russian Chamber of Commerce called on Rome to consider abolishing sanctions against Moscow, claiming that they harm the Italian economy.On Monday, Russian president Vladimir Putin praised the growth of the Russian economy over the last 2 years, despite "more hard conditions".He noted that the country's economy was promoted to 4th in the planet in terms of purchasing power parity (PPP) – an analysis index comparing economical productivity and surviving standards between countries by taking account of differences in the cost of goods and services – behind China, the USA and India.
Translated by Google Translator
source:https://www.rt.com/news/618227-bild-sanctions-russia-dont-work/
