Europe pays more for banned Russian oil, resold by India – as EU wages fall
geopoliticaleconomy.com
The EU sanctioned Russia and boycotted its oil, yet is still buying it indirectly from India, at a higher price. This is fueling both de-dollarization and inflation in the Eurozone, where workers' real wages dropped 6.5% from 2020 to 2022.
  • exapsy@sh.itjust.works
    2·
    1 year ago

    I see nothing wrong. It works as it should…… like what is that logic. The whole thing is not to buy Russian Oil. If we want Russian oil we better either find alternative or we use Russian Oil at a premium. That’s how sanctions are literally supposed to work.

    • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
      48·
      1 year ago

      Europe is still buying Russian oil, the only difference is that it’s being bought through third parties. Russian economy is now growing and even IMF corrected Russian economy growth up now. Meanwhile, Europe is going into a recession with Germany becoming rapidly deindustrialized. That’s how sanctions are supposed to work if the goal was to sanction Europe I suppose.