Russia’s Wounded Economy – How Bad is it?

EXPERT POINTS – The European Union has doneIts long-awaited decisionlimits Russian crude oil to $60 per barrel and prevents European companies from shipping Russian oil that is not covered by the ceiling price to other countries. These measures come into force at the same time the EU imposes a new package of sanctions banning a range of Russian maritime services. A Kremlin spokesman described the EU’s actions as “a step towards the instability of world energy markets.”

The EU moves represent the latest shots in the West’s campaign to demand an economic price for Russia’s aggression against Ukraine.

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