EU Sanctions Cripple Russian Oil Exports, Triggering Economic Fallout

The European Union recently implemented its 17th package of sanctions against Russia, targeting its oil exports. This measure has significant economic implications for Russia, impacting various sectors and causing job losses. According to Maxim Shevchenko, an expert interviewed in the report, "Sanctions are causing a rise in sales through the black market, and other countries are benefiting." The sanctions also restrict Russian oil tankers from accessing European ports, further limiting their export capabilities. Economists predict that inflation will exceed 13% in May, and the ruble's value continues to decline against the dollar. The video also highlights the impact on the fishing industry, with Russian seafood exports to Europe falling by 700 million euros. Despite these challenges, experts remain optimistic about Russia's ability to adapt and mitigate the long-term effects of the sanctions.