EU oil embargo will not deprive russia's financial resources to continue the war – Kiel Institute for World Economy
“Hopes of a quick change of russia's policy in the face of drastic Western sanctions are likely to be disappointed.”
What happened? According to estimates by the German Institute for World Economy in Kiel, even if the European Union imposes an oil embargo on russia, financial opportunities for a long war will remain.
Source. This is stated in the publication of the Institute on Twitter.
Details. “Hopes that russia will soon give in to the Ukraine war in the face of drastic Western sanctions are likely to be disappointed,” said trade expert of the Institute for World Economy Rolf Langhammer.
According to him, the state budget of the russian federation creates conditions for long-term existence based on the self-sufficiency of the military economy.
Background. Today, the President of the European Commission announced the sixth package of EU sanctions against russia, which will include a ban on all imports of russian oil.
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