According to the diplomat, the sanctions have already become painful for Putin and their impact on the Russian economy will only increase over time.
political decisions against the President of the Russian Federation, Vladimir Putin. Imposed sanctions have already become painful for the head of the Kremlin and his accomplices, their influence on the economy of the Russian Federation will only increase over time, said the high representative of the EU for foreign affairs and security policy, Josep Borrell, in an article for “European Pravda”.< /p>
According to him, by the end of 2022, the EU will reduce the import of Russian oil by 90%. The block also plans to reduce gas imports from the Russian Federation.
“Vladimir Putin probably believed that Europe would not dare to impose sanctions because of its energy dependence on the Russian Federation. This is one of those significant miscalculations made by the Russian regime,” Borrell noted.
Borrell is confident that the sanctions have a powerful impact on the Russian economy.
In particular, this concerns the raw materials sector. export, as well as the sphere of the Civil Code of the Russian Federation, which is of crucial importance in the context of the war against Ukraine.
According to the diplomat, the oil production industry of the Russian Federation suffers not only because of the departure of foreign operators, but also because of difficulties associated with access to advanced technologies, such as horizontal drilling.
As for the possibility of the Russian economy saving itself at the expense of China, then this alternative is actually limited, especially when it comes to high-tech products, Borrell is sure.
However, according to the diplomat, these consequences are unlikely to force Putin to change his strategic calculations in the near future, as the head of the Kremlin is currently largely unguided economic logic in their actions.
“However, forcing him to choose between guns and bread and butter, sanctions hold him in a vice that is gradually tightening,” Borrell emphasized.
Borrell also recalled the problems in the world energy and food markets.
“These problems cannot be solved by accepting Russian dictates. This can be achieved only if the Russian troops are withdrawn from Ukraine,” he emphasized.
Borrell also noted that, faced with the invasion of the Russian Federation in Ukraine, Europe began to move from intentions to actions, showing that it can respond to provocations.
“Because we don't want to go to war with Russia, economic sanctions are now the basis of that response. They are already starting to have an effect, and it will grow even more in the coming months,” Borrell assured.
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Earlier it was reported, that the European Union approved the sixth package of sanctions against the Russian Federation. In particular, the EU approved a partial ban on Russian oil, as well as the disconnection of Sberbank from SWIFT. The unit also started work on a new package of sanctions against the Russian Federation. New sanctions may affect Russian gold.
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