Quote:
Originally Posted by Pointman
One more reason to never start a war - nobody knows how it's going to end up. Putin most likely had expected to have Kyiv conquered and whole Ukraine being under his control by this point, and so did most western experts as well. Conversely, western santcions were supposed to destroy Russian economy and, particularly, send Russian ruble into abyss, and neither is actually happening.
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A major reason the sanctions don't work is that they still don't really apply to fossil fuels.
According to Bloomberg, Russian oil revenue is actually up 50% this year. Reasons for the rise include rising oil prices, and India starting to buy huge amounts of Russian oil after the war. Turkey has also increased it's imports significantly, as have many of Russias Caucasian neighbours, but India is the big one.
43% of Russian oil exports still go to the EU, down from 50% pre-war.
The EU is seriously working on ways to cut down their imports, hope they actually get there.