Ross Clark Ross Clark

The EU’s oil ban is a damp squib

EU countries have paid over £40 billion to Russia for gas and oil since the invasion

When Putin’s tanks rolled into Ukraine on 24 February there was a conceit that this might be the first war which the West could fight – and win – by sanctions alone. The EU’s latest efforts to stop importing Russian oil show just what a folly this was. Donations of military equipment to Ukraine are certainly helping to keep Russian forces at bay, but economic sanctions? That is another story.

Europe’s dependence on Russian oil and gas is the product of years of ill-conceived energy policy

Sanctions may be helping to lower living standards among Russian citizens, but they are still a...

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