Andrius Kubilius: EU must stop financing Putin’s war machine2022-03-28 | Political initiatives, Sanctions
Putin’s war against Ukraine is an international crime. Ukrainians are defending their country in a heroic way. The West supports Ukraine, some countries are delivering weapons to Ukraine and sanctions of the West are hitting Russian economy in a painful way. However, the EU, which is very heavily dependent on supplies from Russia, until now is not able to introduce an embargo on energy resources. That is the reason why the EU continues to pay hundreds of millions of euros per day into the pockets of Putin. That way the EU is helping Putin to survive the impact of other sanctions. Some Western leaders claim that embargo (even if only oil embargo) will be very painful for European economies. Therefore, the embargo is still not introduced. This paper provides clear numbers from statistics as well as other evidence that the EU could immediately introduce embargo on oil import from Russia.
Read the full publication.