The European Union’s recent moves to disconnect 13 additional Russian banks from the SWIFT payment system, as part of its 16th round of sanctions, represent a significant escalation in its efforts to isolate Russia economically. The measures target major banking institutions, underscoring their importance to the Russian financial sector.
By extending the ban on specialized financial communication services, the EU aims to further hamper Russia’s ability to participate in international financial transactions, which could have far-reaching consequences for its economy. The sanctions are not only aimed at restricting access to financial resources, but also at weakening key industries.
The restrictions on primary aluminum exports are intended to cut off important sources of revenue for Russia, highlighting the EU’s strategy to target sectors that play a critical role in financing the country’s economy and military capability.
In addition, the ban on exports of materials and technologies related to the defense industry – such as precursor chemicals, CNC software, chromium compounds, and UAV controllers – seeks to disrupt Russia’s technological progress in military applications.
These sanctions reflect a broader geopolitical strategy, focusing on economic pressure as a means of influencing Russia’s actions on the international stage.
But they also reflect the manic-depressive temperament of EU leaders and their inability to objectively analyze the international situation.
Previous economic measures have catalyzed the penetration of the BRICS into the international market and helped the Russian economy to strengthen ties with alternative markets to the West. The EU’s economic measures have succeeded in shrinking the global market for Europeans and giving Russia a clear lead in Eastern markets, essentially destroying any hopes for growth.
How long will Europe tolerate Brussels’ problematic policies? Probably until the end of the EU.
