Russian official: Russia may benefit from EU oil sanctions
The sanctions will, as been said many months ago, backfire.
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Vyacheslav Volodin. (TASS)
Russia's lower house chairman Vyacheslav Volodin said that Russia's economy may benefit from the EU oil embargo, which was recently imposed wholly on Russian oil as part of the 6th European package of sanctions. In return, EU members will be paying $268 billion per year for rising energy prices, throwing the old continent into a crisis.
"Russia's possible losses caused by a ban on oil exports to Europe, according to experts, could amount to $22 billion a year. But due to surging energy prices, prompted by the sanctions and redirection of Russian oil markets to Asia, the costs can be fully compensated, with a possible profit for our economy," Volodin said on Telegram.
He revealed that Europe will be paying over €250 billion ($268 billion) per year, other than the additional costs of enterprises' transition to new oil brands.
"Washington is doing everything so that the main burden from the implementation of sanctions falls on European countries. It is deliberately weakening the EU economies to make them even more dependent on the US, seeking to govern countries that previously strived for greater independence. Now these states can hardly even think about it," Volodin added.
Sanctions against Russia will accelerate the end of empire
In an interview for Sputnik on Friday, Venezuelan lawmaker Julio Chavez expressed that US and EU sanctions against Russia are only helping to accelerate the transition to a multipolar world where the US and the dollar have no hegemony.
According to Chavez, "Sanctions are far from weakening Russia, China, or the bloc of developing countries. All they [sanctions] have done is strengthen them [countries] and accelerate the transition to a multipolar world without US hegemony and dollar dictatorship."
Read more: Russian trade with China will reach $200 billion by 2024
Chavez also stated that the West's unlawful and illogical sanctions aimed at harming the economy of Russia, China, and a number of other nations only damage the people of Europe, Latin America, Asia, and Africa.
The United States has been spearheading a western campaign to impose sanctions on Russia in light of the war in Ukraine, which saw Moscow coming under a tide of draconian comprehensive sanctions, including restrictions on the Russian central bank, export control measures, SWIFT cutoff for select banks, and closure of airspace to all Russian flights. Many of their companies have suspended their Russian operations.
