Daily Times

Russia’s economy may benefit from the EU oil embargo imposed as part of the sixth sanctions package, while the EU member countries are set to overpay about $268b annually amid surging energy prices, Russian lower house chairman Vyacheslav Volodin said on Saturday. “Russia’s possible losses caused by a ban on oil exports to Europe, according to experts, could amount to $22b a year. But due to surging energy prices, prompted by the sanctions and redirection of Russian oil markets to Asia, the costs can be fully compensated, with a possible profit for our economy,” Volodin said on Telegram.

The politician went on to say that Europe will overpay more than 250b Euros (over $268b) annually apart from additional costs of enterprises’ transition to new oil brands.

“Washington is doing everything so that the main burden from the implementation of sanctions falls on European countries. It is deliberately weakening the EU economies to make them even more dependent on the US, seeking to govern countries that previously strived for greater independence. Now these states can hardly even think about it,” Volodin added.