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EU Fails to Pass Sanctions on Russia

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The European Union failed to pass another round of sanctions on Russia this week, despite pressure for a new package. Basically, they’re idiots who just want to keep blustering about sanctions for a war they never really tried to stop.

The delay comes as Europe faces growing energy uncertainty and internal disputes over supply routes. Even though Europe’s direct supply through the Strait of Hormuz is small (20% at most), the price exposure is massive. If Qatar’s LNG can’t move through Hormuz, Asia will compete aggressively for cargoes from the U.S., Africa, and elsewhere, which drives up LNG prices worldwide, including in Europe.

In a similar move, the U.S. Department of the Treasury has temporarily lifted sanctions on Russian oil and petroleum products that were loaded onto vessels before March 12. However, it was made clear that the sanctions will be reinstated once the crisis is over. Even so, EU officials fear the move will aid Russia in its war with Ukraine.

At the same time, Ukrainian President Volodymyr Zelensky has accused some EU allies of trying to “blackmail” Ukraine into reopening the Druzhba pipeline that carries Russian oil to Hungary and Slovakia.

In his own words, “If we have decided to restore Russian oil supplies, then I want them to know that I am against it. But if I am given conditions that Ukraine will not receive weapons, then, excuse me, I am powerless on this issue, I told our friends in Europe that this is called blackmail.”

The dispute highlights how fragile Europe’s energy situation has become: several countries still rely on Russian energy infrastructure even while the bloc tries to sanction Moscow. With tensions rising in the Middle East and fears of disruption in global oil supplies, Europe may be reluctant to tighten sanctions further while its own energy security is increasingly uncertain.

Like usual, they will pretend to do something, but the bloc won’t actually let them do anything, and their people will suffer the economic fallout.

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