Sanctions Didn’t Stop Putin
On Their Effectiveness in the Short-term & Long-term
In some sense, sanctions are working. But they are not enough. Indeed, with the rise in the price of gas and oil, Putin has even profited from his invasion.
Based on a Helsinki-based Centre for Research on Energy and Clean Air (CREA) study, the EU has daily transferred $730 million to Putin’s war machine, which is roughly four times more than Russia’s daily military spending. But in the long term (2 to 4 years), the EU sanctions will be catastrophic for Putin.