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Ukraine:Villa (ISPI), only sanctions on energy are effective

EU is too dependent on gas. Oil should be the target

13 April, 15:56
(ANSA) - BELGRADE, APR 13 - The damages to Russia deriving from sanctions are not yet "those we could expect." "We know it well, and if we want to hit Moscow, the only target can be their energy exports. But we are also scared because to those exports, and to gas, in particular, we are closely tied". So said Matteo Villa, head of the Data Lab of the Institute for International Policy Studies (ISPI), answering a question on the effect of Western sanctions against Russia in an interview with ANSA.

ISPI released a new survey on the impact of Western sanctions against Moscow conducted by the Ispi Data Lab. According to the study, sanctions are affecting the Russian economy in a relevant way. However, there are still too many loopholes that Moscow can exploit to reduce their effects, especially in terms of energy.

Moreover, we should not underestimate that there are still many countries that have not imposed sanctions, 81% globally.

Therefore, the embargo against imports from Russia is impacting only 7% of Russian exports to the West. Finally, higher gas prices are helping Moscow replace lost income from oil and coal.

"We continue to focus on gas, but we are too 'tied' to Moscow to be able to do without it quickly. Oil - Villa explained - should be the obvious target of European sanctions. The EU imports more than half of all crude oil and derivatives exported from Russia, and it is not easy for Moscow to replace buyers right away." (ANSA).

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