Except, they’re already hemorrhaging funds right now. The entire economy is already running on debt, and now their oil and gas production has been almost cut in half. Losing another 11% would be devastating.
But, I agree they are not going to surrender. Putin will drive the country into bankruptcy before he admits defeat. The same stubborn pride led to the fall of the Soviet Union. Then it was Afghanistan, and this time Ukraine.
That are Russian oil exports. So the volume has not changed much over the years and production certainly has not halved. They just get paid less for the oil. However as you can clearly see a 11% drop in sales to the EU, would probably just be replaced by some other customer. They pay less, but Russia will not have a 11% drop in fossil fuel profits.
This is not to say sanctions do not work. However right now, the key is keeping up sanctions and supporting Ukraines long range drone campaign. Not getting spare parts for refineries makes those much more effective.
Except, they’re already hemorrhaging funds right now. The entire economy is already running on debt, and now their oil and gas production has been almost cut in half. Losing another 11% would be devastating.
But, I agree they are not going to surrender. Putin will drive the country into bankruptcy before he admits defeat. The same stubborn pride led to the fall of the Soviet Union. Then it was Afghanistan, and this time Ukraine.
https://www.russiafossiltracker.com/
That are Russian oil exports. So the volume has not changed much over the years and production certainly has not halved. They just get paid less for the oil. However as you can clearly see a 11% drop in sales to the EU, would probably just be replaced by some other customer. They pay less, but Russia will not have a 11% drop in fossil fuel profits.
This is not to say sanctions do not work. However right now, the key is keeping up sanctions and supporting Ukraines long range drone campaign. Not getting spare parts for refineries makes those much more effective.