The full-scale Russian invasion of Ukraine is now approaching the three-year mark, with no end in sight to a war that is widely recognized as the largest European conflict since World War II. So far, the Western response to the invasion has focused on providing military aid to Ukraine while imposing economic costs on Russia. This approach has clearly failed to produce the desired effect of ending the war, and requires significant strengthening if it is to prove effective.
Russia’s ability to sustain military operations depends largely on revenues generated by the country’s energy exports. However, due to Russia’s significant share of global oil and gas markets, Western leaders have been reluctant to impose comprehensive bans on Russian energy exports amid concerns that this could lead to price spikes and global economic instability.
As a compromise, the West has allowed Russia to continue oil and gas sales while attempting to cap the amount of income the Kremlin can receive. While this approach is well intentioned, it has proved difficult to implement in practice and has produced limited results. In order to undermine Putin’s war machine, the West needs to impose additional restrictions while also exploring ways to improve implementation.
Voice of Ukraine 