The European Union has announced a series of new sanctions against Moscow, including a ban on Russian oil imports until the end of the year. But will this affect Russia’s military action in Ukraine?
Tyler Kustra, a professor of politics at the University of Nottingham who studies economic sanctions, describes the new sanctions as a “half-measure”, according to the BBC.
The oil shutdown is at least six months away, he noted, while Hungary and Slovakia will be able to continue buying Russian oil until the end of 2023.
“So Putin will see hundreds of millions of euros a day flowing into his bank accounts. He can use that money to finance this costly war,” Kustra said.
“Moscow is likely to use this space to try to secure new oil contracts in Asia,” he said.
Stopping gas to the EU would show “serious political will to stop these atrocities,” Kustra added.
There is no consensus among the 27 EU member states on restricting the use of Russian natural gas, which has not yet been targeted by EU sanctions.
The new sanctions are stricter than previous ones, but “they are not far enough to end the worst war in Europe since 1945,” he said.
Source: Capital
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