EU sanctions against Russia have 'failed' — energy expert.

The European Union has adopted new sanctions against Russia, establishing a price cap on oil from the aggressor country. However, Russia is finding ways to circumvent these restrictions.

Why the sanctions against the Russian Federation do not work

The director of energy programs at the Razumkov Center, Volodymyr Omelchenko, reported that the sanctions are ineffective because Russia uses a shadow fleet and circumvention schemes. Furthermore, Russia collaborates with alternative markets that do not support the EU's sanctions policy. Markets such as China and India do not fear sanctions and do not reduce the volumes of oil purchases from the Russian Federation.

'The ceiling' has absolutely not worked and does not work. The main markets are China and India. They do not look at EU sanctions, they are not afraid of sanctions, and they will buy at whatever price they can agree on. The Russian Federation has continued to export 7 million barrels of oil daily, and the volumes have not decreased.

At the same Time, European governments believe that the sanctions have a certain positive impact. Russia has lost its most liquid market, which forces it to work with less profitable oil supply routes.

Additionally, the Speaker of the Verkhovna Rada, Stefanchuk, announced the approach of a new U.S. sanctions package against Russia, which Ukraine is eagerly anticipating. The EU is also developing the 19th package of restrictions against Russia.

The adoption of new sanctions by the EU against Russia has provoked Russia to seek ways to circumvent these restrictions. European countries believe that sanctions have a positive impact, but Russia continues to find ways to avoid their influence, cooperating with alternative markets and using circumvention schemes.