In his article titled “Yes, sanctions against Russia work,” Borrell talked about the impact of the restrictions on Moscow. He stated that the imposed sanctions led to a decrease of more than 70 percent in supplies from Russia to the European Union (EU) countries compared to 2021 levels. European exports to Russia also fell by 54%.
According to Bloomberg’s calculations, despite the ongoing anti-Russian sanctions, Russia’s energy export revenues increased by 5.3% to $8.66 billion in July 2023 compared to the same period last year.
Source: Ferra
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