EU sanctions on Russia — as demanded by the bloc’s US master — have had a boomerang effect.
Instead of harming their intended target — largely self-sufficient Russia — they’re biting the hands and shooting the feet of bloc nations.
After weeks of toing and froing debates, what passes for EU “leaders” agreed on a sixth round of self-destructive sanctions on Russia.
They include delisting Russia’s Sberbank — one of the nation’s two largest banks — from the so-called SWIFT international payment system.
EU sanctions on Russia — as demanded by the bloc’s US master — have had a boomerang effect.
Instead of harming their intended target — largely self-sufficient Russia — they’re biting the hands and shooting the feet of bloc nations.
After weeks of toing and froing debates, what passes for EU “leaders” agreed on a sixth round of self-destructive sanctions on Russia.
They include delisting Russia’s Sberbank — one of the nation’s two largest banks — from the so-called SWIFT international payment system.
Embargoing vitally needed Russian oil, arriving by sea by yearend 2022, was also agreed on.
According to European Council President Charles Michel on Monday:
“Agreement (was reached) to ban export of Russian oil to the EU.”
“This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine (sic).”
“Maximum pressure (continues) on Russia to end” its SMO in Ukraine — because its forces are winning decisively, smashing the Nazified made-in-the-USA monster war-making machine, Michel failed to explain, adding:
“This sanctions package includes other hard-hitting measures: de-Swifting Sberbank, banning 3 more Russian state-owned broadcasters, and sanctioning individuals responsible for war crimes” — ones committed by Ukrainian Nazis and conscript forces.
The increased embargo on Russian oil excludes what’s supplied by pipeline.
Landlocked Hungary receives over 60% of its oil and about 85% of its natural gas, the former from the Soviet-era’s 4,000 km Druzhba pipeline.
Its Prime Minister, Viktor Orban, made clear that he’d only support more sanctions on Russia if he could continue importing Russian energy unimpeded — including from “other sources” if something happens to the Druzhba pipeline.
The Czech Republic and Slovakia also rely heavily on Russian energy and intend to continue importing what can’t be replaced from other sources.
The EU’s increased embargo on Russian oil will not cost the nation “billions of dollars a year” as NYT fake news falsely claimed.
Since US/Western sanctions were imposed on Russian energy, its revenues from this source soared.
According to OilPrice.com last week:
“Russia’s oil and gas revenues hit another record high despite sanctions designed to hurt the Russian economy.”
“The removal of some Russian oil from markets only served to send oil prices higher, boosting revenues from the oil that it is able to sell.”
“There is no way to remove Russian oil from the market entirely without sending oil prices much higher, possibly above $200.”
The same reality applies to indispensable Russian natural gas.
Along with increased Russian oil and gas revenues from higher prices, what Gazprom doesn’t ship west goes to eastern nations eager to buy readily available Russian energy — notably China and India.
At the same time, harebrained US/Western sanctions on Russia caused soaring inflation in their nations to double-digit levels, disrupted supply chains and growing economic weakness.
Separately, EU regimes agreed on throwing nearly $10 billion more for Nazi-infested Ukraine in so-called financial aid — to be stolen by its criminal class in one of the world’s most corrupt nations.
According to Michel, senior EU bloc officials will meet Wednesday to rubber-stamp the latest anti-Russia moves.
The harder they try to harm Russia, the more damage they do to their own economies, along with inflicting increased hardships on their people.
Their sanctions and proxy hot war on Russia also furthers the decline of their nations.
It’s happening while the Russian Federation, China and other nations free from US-dominated Western control are rising in prominence on the world stage at a time when multi-world polarity continues to erode Washington’s unipolar moment.