Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

0:00
0:00

Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP

The EU sanctions on Russia over Ukraine have completely failed to punish the country, Belgian MEP Guy Verhofstadt has said
Despite the bloc’s attempts to punish Russia, imports from the country have soared, Guy Verhofstadt says

The EU’s sanctions on Russia over the Ukraine conflict have been a complete failure, Belgian MEP Guy Verhofstadt said on Monday. He added that the EU was only “rewarding” Russia by increasing imports from the country.

Writing on Twitter, Verhofstadt, who served as Belgian prime minister from 1999 to 2008 and has been an MEP since 2009, claimed that the effect of the EU’s nine sanctions packages on Moscow “is less than 0.”

The former PM said that the bloc’s attempts to punish Russia have achieved the opposite result. “We are rewarding Russia for its war against us!”

Verhofstadt also posted a chart titled ‘Still Filling Putin’s Coffers’, showing Russia-EU trade from February to August 2022. The graphic, which cites Eurostat data, shows that most EU member states, including Germany, France, Italy, and Poland, significantly increased imports from Russia. In total, only seven EU members have bought less from the country.

Following the start of Russia’s military operation in Ukraine, the EU imposed unprecedented sanctions on Moscow, targeting entire sectors of the economy. In December, the bloc, along with the G7 countries and Australia, introduced a price cap on Russian seaborne oil, set at $60 per barrel. In response, last week, President Vladimir Putin signed a decree banning the supply of oil and petroleum products from Russia to countries which apply these restrictions.

The sanctions on Russia have exacerbated the bloc’s energy crisis, causing fuel prices and the cost of living to soar. This has prompted protests against the sanctions policy in several EU countries. In December, a demonstration organized by the right-wing Patriots party took place in Paris against the government’s stance on Russia and France’s membership in NATO.

In his New Year’s address, Putin claimed that the West’s “full-blown sanctions war” against Moscow has largely failed to undermine the Russian economy.

Newsletter

Related Articles

0:00
0:00
Close
Unelected PM of the UK holds an emergency meeting because a candidate got voted in… which he says is a threat to democracy…
Farmers break through police barriers in Brussels.
Ukraine Arrests Father-Son Duo In Lockbit Cybercrime Bust
US Offers $15 Million For Info On Leaders Of Cybercrime Group Lockbit
Apple warns against drying iPhones with rice
Alexei Navalny: UK sanctions Russian prison chiefs after activist's death
German economy is in 'troubled waters' - ministry
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Tucker Carlson says Boris Johnson wants "a million dollars, in Bitcoin or cash, from Tucker Carlson to talk about Ukraine.
Russia is rebuilding capacity to destabilize European countries, new UK report warns
EU Commission wants anti-drone defenses at Brussels HQ
Von der Leyen’s 2nd-term pitch: More military might, less climate talk
EU Investigates TikTok for Child Safety Concerns
EU Launches Probe Into TikTok Over Child Protection Under Digital Content Law
EU and UK Announce Joint Effort on Migration
Ministers Confirm Proposal to Prohibit Mobile Phone Usage in English Schools
Avdiivka - Symbol Of Ukrainian Resistance Now In Control Of Russian Troops
"Historic Step": Zelensky Signs Security Pact With Germany
"Historic Step": Zelensky Signs Security Pact With Germany
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Tucker Carlson grocery shopping in Russia. This is so interesting.
France and Germany Struggle to Align on European Defense Strategy
‘A lot higher than we expected’: Russian arms production worries Europe’s war planners
Greece Legalizes Same-Sex Marriage and Adoption Rights
Russia "Very Close" To Creating Cancer Vaccines, Says Vladimir Putin
Hungarian Foreign Minister: Europeans will lose Europe, the Union's policy must change drastically
Microsoft says it caught hackers from China, Russia and Iran using its AI tools
US Rejects Putin's Ceasefire Offer in Ukraine
The Dangers of Wildfire Smoke and Self-Protection Strategies
A Londoner has been arrested for expressing his Christian beliefs.
Chinese Women Favor AI Boyfriends Over Humans
Greece must address role in migrant vessel disaster that killed 600: Amnesty
Google pledges 25 million euros to boost AI skills in Europe
Hungarian President Katalin Novák Steps Down Amid Pardon Controversy
Activist crashes Hillary Clinton's speech, calls her a 'war criminal.'
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Trudeau reacts to Putin's mention of Canadian Parliament applauding a former Ukrainian Nazi in his interview with Tucker Carlson.
The Spanish police blocked the farmers protest. So the farmers went out and moved the police car out of the way.
Volodymyr Zelenskiy fires top Ukraine army commander
Tucker Carlson's interview with Vladimir Putin raises EU concerns
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
Russia's Economy Expands by 3.6% Due to Increased Military Spending
Ukraine MPs Vote To Permit Use Of Dead Soldiers' Sperm
German Princess Becomes First Aristocrat To Pose Naked On Playboy Cover
UK’s King Charles III diagnosed with cancer
EU's Ursula von der Leyen Confronts Farmer Protests Amid Land Policy Debates
Distinguishing Between Harmful AI Media and Positive AI-Generated Content: A Crucial Challenge for the EU
Tucker Carlson explains why he interviewed Putin
Dutch farmers are still protesting in the Netherlands against the government, following the World Economic Forum's call for 'owning nothing.'
Hungarian Prime Minister Viktor Orbán stands up for European farmers and says, 'Brussels is suffocating European farmers.
×