The latest package of sanctions approved by Brussels with the purpose of making yet another attempt to force Russia to pull out of Ukraine, focuses on energy. The argument: income from energy exports fuels the war. The problem: there is no sanction package that the EU can come up with that can stop Russian energy exports. When the EU first banned Russian oil imports and set a price cap for Russian oil exporters should they wish to use Western vessels and insurance, Indian refiners must have cheered. India imports 85% of the crude it uses. Once…
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