Budapest Post

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

Only one nation benefits from sanctions on Russia – Russian Finance Minister

Only one nation benefits from sanctions on Russia – Russian Finance Minister

"The US is benefiting from sanctions on Russia, selling energy to Europe at a high price", the Russian Finance Minister has said
The sanctions the West has slapped on Russia over the Ukraine conflict are taking a heavy toll on the European economy, while the United States is the only actor profiting from the restrictions, Russian Finance Minister Anton Siluanov said on Saturday.

Speaking to Asharq News daily, the minister claimed that Western sanctions had helped the Americans achieve what they wanted, saying “their supplies of oil and gas to the European market have increased.”

Energy shipments from the US, however, have proved costly for Europeans, resulting in skyrocketing inflation and decreased competitive power for European businesses, Siluanov said.

According to the minister, both Western sanctions and the blasts that ruptured the Nord Stream 1 and 2 gas pipelines in late September “were orchestrated to provide Europe with more expensive liquefied [natural] gas from America.”

“America benefits, Europe loses,” he explained.

Moscow has called the sabotage a terrorist attack, claiming that the US stood to benefit the most from the explosions. While Washington has denied any involvement, Secretary of State Antony Blinken described the incident as a “tremendous opportunity” for Europe to wean itself off of Russian energy.

Siluanov went on to admit that sanctions have affected the Russian economy. “But they inflicted on the West no less and perhaps even more pain,” he added, pointing to how sanctions rhetoric has now become routine.

The minister noted that the EU price cap on Russian oil “will certainly lead to price and market distortions,” reiterating Moscow’s position that it would not provide crude through contracts under Western-mandated restrictions.

Russian oil companies are rerouting their oil shipments from the West in other directions, the minister said. “We will be looking for new markets, looking for new logistics. It is possible that this would be more expensive,” he stated.

Earlier this month, the EU, G7 countries and Australia introduced a price limit on Russian seaborne oil, set at $60 per barrel. The measure also prohibits Western companies from providing insurance and other services to shipments of Russian crude, unless the cargo is purchased at or below the indicated price.

Following the move, Kremlin Press Secretary Dmitry Peskov warned that the restrictions would wreak havoc on global oil markets, while Russian President Vladimir Putin said that Moscow was not planning to sell oil to nations supporting the price cap.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
UK's Online Safety Law: A Front for Censorship
Parents Abandon Child at Barcelona Airport Over Passport Issue
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
China Enforces Comprehensive Ban on Cryptocurrency Activities
Grok 4 Video plus Voice, can identify wildlife!
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
The UK Does Not Have a ‘Far-Right’ Problem
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
JD Vance Warns Europe Faces “Civilizational Suicide” Over Open Borders and Speech Limits
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
×