A complete oil embargo could end the war in Ukraine.
Former economic adviser to the Russian president Andrei Ilarionov said that the “real embargo” of Western countries on Russian energy could end the war in Ukraine.
He noted that Russia “does not take seriously” threats from other countries to reduce its use of Russian energy.
“I bet in a month or two the Russian military operation in Ukraine will probably stop. “It is one of the most efficient instruments owned by Western countries,” he said.
Despite Europe’s efforts to reduce its dependence on Russian energy, it continues to buy oil and gas from Russia.
According to last year’s data, oil and gas accounted for 36 percent of the Russian government’s revenue and the majority is the European Union, which imports 40 percent of its gas reserves and 27 percent of its oil from Russia.