EU Russia sanctions: Analysts had predicted that the Russian economy won’t be able to face the brunt of war and will collapse within six months.
Cut to now, the anti-Russian stance that the European countries had adopted is vanishing in thin air. They are now cozying up to Russia as whatever they had intended has failed terribly.
European Union countries have failed to agree on a new batch of sanctions against Moscow.
Before this set of sanctions, the EU had decided to sanction Russia 9 times and still only saw Russia growing by leaps and bounds.
So now, EU may be thinking that not sanctioning Russia might be better for EU at this point of time rather than hunting it down like a bunch of fools. In response to Russia’s annexation of Crimea in 2014, its invasion of Ukraine in 2022 and then its annexation of Ukraine’s Donetsk, Luhansk, and Zaporizhzhia in 2022, the EU has only and only placed sanctions on Russia. The European Union has sanctioned everything Russian, including Russian banks, businesses, energy sources like coal and oil, investments, public finance, and materials like iron, steel, and timber.
The sanctions merely served to damage the world economy and aided Moscow’s military endeavours. As a result, the sanctions have been criticised by several nations. Poland and Hungary are two nations that have vigorously opposed the sanctions from the start. Nevertheless, serious penalties against Russia have not been imposed, according to Switzerland and Greece.