MOSCOW, KOMPAS.com – Former Chief Economic Adviser to the President Russia Vladimir PutinDr Andrei Illarionov give a lattice on how to end the war in Ukraine what Western countries can do.
According to him, a “real embargo” on Russian energy could stop war in Ukraine.
Illarionov said Russia did not take other countries’ threats to reduce their energy use seriously.
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Despite trying to reduce its dependence on Russian sources, Europe continues to buy oil and gas.
Last year, soaring prices meant oil and gas revenues accounted for 36 percent of Russia’s government spending.
Most of that revenue comes from the European Union, which imports about 40 percent of its gas and 27 percent of its oil from Russia.
This week, a top EU diplomat Josep Borrell said that the EU pays Russia 1 billion euros every day for the energy they provide.
“If Western countries are going to try to impose a real embargo on oil and gas exports from Russia, I’d bet that maybe in a month or two, Russia’s military operations in Ukraine, might be stopped,” said Dr Illarionov.
“It could be one of the most effective instruments that Western countries still have,” he said BBC, Sunday (10/4/2022).
While oil and gas trade has continued throughout the conflict, widespread sanctions have brought much of Russia’s other economic activity to a halt.
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