The European Union has a complication that makes the sanctions more bearable for Vladimir Putin as they need Russian gas exports to power their states.
Do all the bank sanctions crow all about the success it has to tame the Kremlin, but Brussels is not a position to say no to the energy supplied by Gazprom. Nord Stream 2 has been shut down, but other gas lines like the Yamal pumping gas to Europe.
Putin Not Deterred With Sanctions
If the sanctions target is to knock Russia back, it is not working against Russian President Vladimir Putin, and Moscow will not get crippled anytime soon, reported the Express UK.
Sanction expert Tyler Kustra from Nottingham University said it's lacking, and more is needed to affect the outcome of the Kremlin's actions.
Political experts have expressed reservations about Europe's dependence on Russian gas and oil, allowing Moscow to keep fighting Ukraine, notwithstanding the implementation of harsh sanctions.
He added that Putin still gets money to wage war. Russian forces have been moving forward in Ukraine but are supposed to meet stiff resistance from locals who have sown disorder among the invading troops.
Polish Prime Minister Mateusz Morawiecki, during the leaders' summit a week ago, wanted less dependence on Russian energy.
Travel bans, asset freezes, and restrictions on making deals with Russian entities were all enforced by Western powers against Russia.
Effects of Sanctions on Russia
These sanctions caused the Russian Ruble to lose value, and Russian financial centers had to raise the interest rates. This minor compared to the European Union paying more than they do for Russian gas exports.
Despite the aim to cripple the Russian war machine, the catch is that if Russian gas is not supplied, it will mean dire consequences for the bloc, cited the New York Times.
Russia earns through oil and natural gas it provides to Europe, a large component of its economy. Kustra remarked that the demand for energy keeps Moscow afloat, which will not dent the Kremlin in any yet.
Boris Johnson, the British Prime Minister, has encouraged the bloc to extricate itself from natural gas and develop alternative energy sources such as green energy.
Compared to the bloc, Britain only gets 5 percent from Russia while the bloc receives a whopping 40 percent; that is why they are in a dire plight.
Sanction-wise, most of the sectors affected are the manufacturing and financial sectors in Russia, nor dare touch the energy sector for its implications on the blocs economy.
Gazprom will still do business with Brussels and still give gas per the contract agreement, even as Ukraine is fighting to stay alive.
If the Nord Stream 2 were to be operating now, more energy reliance would be developed; something that Americans don't want to occur.
But at the last-minute German Chancellor Olaf Scholz decide to shut it for the meantime. After the invasion, he decided to do something.
The drop of the Ruble due to sanctions at its lowest would cause an economic meltdown.
According to the chief executive at consultancy firm Micro-Advisory in Moscow, Chris Weafer told an outlet some lines are forming in grocery stores. These would be items affected by trade restrictions.
But compared to the crisis, the European Union will feel that if Russian gas exports go dry, it will be much worse. The US will be impotent because Brussels intends to keep the supply going.
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