Monday, January 9, 2023

Trade Sanctions Flop

Supposedly the European Union is angry with Russia over its invasion of Ukraine, and has imposed trade sanctions. If you suspect sanctions have little effect, you are correct.

Power Line posts a chart by Eurostat sourced from Politico.eu which shows that 19 of the 26 EU nations for which data is available traded more with Russia in 2022 than in 2021. Malta was left off the list. For eight of the nineteen, last year’s trade with Russia was more than double the prior year trade. 

Tell me again how these “tough” trade sanctions are hurting the Russian economy, I can’t quite see it.