Europe prepares for Russian product import ban
The European products market is the latest battlefield in the conflict between Moscow and the West
Russia has long sought to weaponise its critical role in the energy markets, and since launching its botched invasion of Ukraine almost a year ago, Moscow has intensified those efforts with the goal of driving a wedge between Kyiv and its European allies. But conversely, the EU is attempting to use its massive purchasing power to retaliate through the introduction of various market-intervention measures. The bloc banned imports of Russian crude on 5 December—with some notable exemptions, particularly for Bulgaria—and will impose a similar ban on Russian products on 5 February. The European Commission says the bans are “designed to maximise the negative impact of the sanctions for the Russian
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