Bloomberg: Putin hits EU’s weakest point

Russian President Vladimir Putin has managed to hit Europes’s weakest point, namely the energy sphere.

The rise in fuel prices due to sanctions against Russia has caused high inflation in the West, according to Bloomberg.

“Even though the European Union puts forward the most severe restrictions against Russia, the number of compromises is growing, ranging from concessions on oil supplies through the pipeline to the removal of Patriarch Kirill from the sanctions list,” the article says.

It is reported that the economic sanctions imposed against Moscow have split up the EU.

The “financial weapon” is an imperfect tool that is prone to patchy enforcement and unintended consequences.

Bloomberg Economics estimates that Russia’s oil-and-gas revenue will be about $285 billion this year.