European sanctions have reduced Russia's oil revenue

The sanctions imposed by the European Union against Russia are seriously affecting not only the overall economy but also critical sectors such as oil exports. This was reported by Zamin.uz.

According to the EU's foreign policy chief, Kaja Kallas, these restrictions could be even more effective with full support from the United States. In an interview with Die Welt newspaper, the Estonian politician stated that the Russian economy is currently undergoing severe trials.

Moscow is being deprived of the necessary funds to finance the prolonged military operations in Ukraine. The main reason for this is the sanctions imposed by the European Union.

Kaja Kallas noted that work is currently underway on the 19th package of sanctions. Previous restrictions have already shown their effectiveness.

For example, as a result of measures imposed on Russia's oil shipping fleet, revenues from oil transportation along the Baltic and Black Sea routes have decreased by approximately 30 percent within a week. The EU's foreign policy chief said: “Due to the sanctions, Russia has lost billions of dollars.

These funds will no longer be spent on military expenses.” In this way, the European Union's sanctions are limiting Russia's economic capabilities both financially and strategically. In the future, this process is expected to intensify with full partnership from the United States.