A “royal embargo” on Russian energy by Western countries could stop the war in Ukraine, suggested the former chief economic adviser to President Putin. Dr. Andrei Illarionov stated that Russia “did not take seriously” other countries’ threats to reduce its energy use. Despite trying to reduce its dependence on Russian sources, Europe continues to buy oil and gas.
Last year, sky-high prices meant that oil and gas revenues accounted for 36% of Russia’s public spending. Much of that revenue comes from the European Union, which imports about 40% of its gas and 27% of its oil from Russia. This week, his top diplomat, Josep Borrell, said that “a billion [de euros] It’s what we pay Putin every day for the energy he supplies to us.
Dr. Illarionov said that if Western countries “tried to implement a real embargo on Russia’s oil and gas exports… I bet they would probably Within one or two months, Russian military operations in Ukraine will cease, they will stop.”