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EU foreign affairs chief Josep Borrell in Moscow last year (Photo: ec.europa.eu)

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Russia's war chest 'melting away', internal EU study says

Sanctions were "melting away" Russia's ability to finance the war, the EU has said, but China and Turkey are helping it to get around Western blockades.

The EU's most painful measures have hit the energy and banking sectors, the EU Commission said in an internal report dated Monday (10 October) and seen by EUobserver.

"Markets are already turning away from trading Russian oil, months before the EU import ban kicks in. Only two-thirds of previously European-bought volumes are curr...

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

EU foreign affairs chief Josep Borrell in Moscow last year (Photo: ec.europa.eu)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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