EU Leaders Agree to Ban 90% of Russian Oil by Year-End
SnopesAPR 3 2022
In a major achievement, EU leaders have continued to come together beyond the hurdles to rightly embargo the majority of Russian oil imports – starving Putin of a crucial source of funds for his illegal war of aggression.
The sanctions are clearly hurting countries in western and central Europe more than Russia. The 70% surge in world gas prices has supercharged Russia's balance of payments – in fact, Moscow's trade surplus has tripled since the invasion. As food and energy prices soar, it's clear that sanctions don't work.