The European Commission is talking about the major impact that the sanctions imposed against Russia have on the country's economy, and this is because the effects of major limitations in imports, exports, for the banking sector, and not only, were inevitably to be seen.
The Russian economy is in ruins.
Sanctions are essential to destroying Russia's ability to wage war.
Recently, a new package of sanctions against Russia was proposed, which includes:
- inclusion of new persons and entities on the list
- new import bans on Russian products, depriving the Russian economy of €7 billion in revenue
- more products that can no longer be exported to Russia, especially key technologies needed for war
Also, Russia should not benefit from European intelligence and expertise.
In addition, the proposal includes:
- a legal basis for an oil price cap
- stepping up our efforts to crack down on sanctions evasion
