Experts: Putin’s regime lost almost EUR 300 billion. They may hit the ghost fleet

– Due to the freezing of central bank assets, the Russian regime has no access to this money. So it lost almost EUR 300 billion, although Russia compensates for this by selling oil around the world. Sanctions on Russian banks have made international transactions significantly more difficult and have actually cut Russia off from the global financial system. Although this did not stop the economy, it will be problematic in the long run. However, trade sanctions are full of loopholes that are constantly being removed, so the situation is not hopeless, said an expert from the Bruegel Institute.

Sanctions against Russia. The European Union is closing some of the loopholes

The European Union is closing some of the loopholes with . It is one of the most modest because there are no economic sanctions. However, it cuts the supply chain for the production of drones and attacks companies from outside Russia that help it circumvent the restrictions. For the first time, the EU imposed sanctions on companies from mainland China.

– It is not enough, but it is a step forward – commented Wojciech Jakóbik, editor-in-chief of the Biznesalert.pl portal. – This may limit drone deliveries from China to Ukraine, but it may also hit the ghost fleet, i.e. entities that supply Russian oil, insure such deliveries or otherwise support this form of bypassing sanctions by Russia. Therefore, these sanctions should be viewed as a form of closing the gaps in the existing restrictions. This should be done, but we would like to do more, emphasized Jakóbik.

Especially since there have been long-standing calls for a total embargo on aluminum from Russia. Poland, the Baltic and Nordic countries are also calling for an embargo on LNG from Russia and imposing sanctions on nuclear energy – however, some countries are opposed to this.

On February 24, 2022, Russia attacked Ukraine

Saturday marked two years since Russia’s full-scale armed invasion of Ukraine. On February 24, 2022, Putin’s troops, gathered at the Ukrainian border since autumn 2021, launched an attack. The attack also took place from the territory of Belarus. This was an intensification of Russian actions from 2014 – the annexation of Crimea and the war in eastern Ukraine.

During 24 months of full-scale war, thousands of people died, not only soldiers but also civilians, including women, children and the elderly. Millions of people lost their homes and were forced to flee in search of help and safe shelter. The Russian aggressor continues to bomb Ukrainian cities, leaving dead and wounded.