Europe will refuse 90% of the oil it buys from Russia. Can we say goodbye to the Russian economy?
On the night of May 31, the European Union, after a month and a half of negotiations, announced a decision to impose an oil embargo on Russia. The main goal is to deprive Russia of “a huge source of financing for its military machine.” The market responded to this statement by continuing to grow: since the beginning of the year, oil prices have already risen by 58%, and while awaiting the decision on the embargo, by more than 7% over the past four days. Yes, but not all at once and not all.