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EU Grabbed More Power to Wage Economic War against Russia – Media
EU leadership has conducted a concerted “economic war” against Russia in part due to concerns that member states could be hurt by secondary sanctions from the US, German magazine Spiegel said in its latest edition.
Brussels at the time “feared that the US could unilaterally decide on sanctions” due to a potential escalation in Ukraine, Spiegel said. European companies could be then subjected to them without Brussels having any say, to prevent this, EU officials agreed to prepare a unified response.
EU bureaucrats consider their efforts a major success, though some of the damage they caused will take months and years to materialize, they say. Spiegel believes it was a mixed bag, since Moscow has managed to counter some of the restrictions and is raking in record profits by selling oil to India, which resells it to Western nations.
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