Impact on Russia

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In short: if money from energy exports are indeed not essential to continue the war, and if embargo would really hurt Europe/the West much worse than russia, then why hasn't putin cut off the supply yet?

Impact so far

  • In June 2022, #Russia's GDP was down 4.9% year-over-year, according to the Russian Economy Ministry. via @jakluge

  • Russian revenues from energy export decreased by ~40% in July compared to March (EU: -50%). Still, EU is paying 200 to 300 mln EUR every day! (according to CREA estimates).

Crea day avg.png Crea time country.png

  • Russia gas export volumes down 3/4 compared to 2021, but profits are similar due to higher prices. OTOH profits are much lower than late 2021/early 2022, and decline sharply (via @ben_moll):

  • Oil import volume has been reduced by 10 billion EUR: "Europe's Russian oil embargo: significant but not yet | Bruegel". Retrieved 2022-06-06.
  • Yale School of Management: "Business Retreats and Sanctions Are Crippling the Russian Economy" (July 2022)
  • Bauer, Jakob; Blickle, Paul; Ehmann, Annick; Endt, Christian; Erdmann, Elena; Grefe-Huge, Carla; Peter, Valentin; Tröger, Julius (2022-06-03). "Energiemonitor: Teuer, klimaschädlich und abhängig von Russland". Die Zeit. Hamburg. ISSN 0044-2070. Retrieved 2022-06-05.


Energy embargo

Embargo in general