How much money does Russia get from oil and gas exports to the EU and what can be an alternative to Russian energy?
By waging war in late February, Russia aimed at the total annihilation of the Ukrainian people. The shelling, bombing and blockade of dozens of Ukrainian cities occur every day.
Since the beginning of the war, Western leaders have expressed solidarity in ending the war and condemned the actions of the aggressor.
Most of them imposed sanctions on the Central Bank of Russia, a number of financial institutions, strategic enterprises, government officials and members of their families, and banned new investments and export-import operations on a number of goods.
According to World Bank, sanctions in 2022 will reduce Russia’s GDP by 11.2%.
At the same time, these losses are incomparable with those of Ukraine: if the war continues for several more months, GDP reduction is expected at 45%.
