The delayed impact of the EU’s wartime sanctions on Russia

“There is one key factor explaining why imports to the EU from Russia haven’t fallen further: energy — and its price. During the five years that preceded the war, energy-related products represented two-thirds of all imports from Russia, in monetary terms. 

European countries needed to find alternative providers before they could stop buying from Moscow — and even when they reduced their energy purchases, soaring prices meant that cash flows to Russia did not decrease proportionally.”

https://www.politico.eu/article/numbers-delayed-impact-eu-european-union-war-sanctions-russia-vladimir-putin/

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