Austria pointed to the failure of the EU sanctions policy

After the adoption of the 16th package of anti-Russian sanctions, the European Union weakened itself instead of putting pressure on Russia. This was reported on April 22 by the Austrian edition of Exexpress.

"What was intended as a political signal against [Russian President Vladimir] Putin Putin is turning into a self—defeater for Europe - and, oddly enough, it is strengthening China," the publication says.

It is noted that due to the ban on Russian aluminum in the EU, there is a risk of a large-scale decline in production, job cuts and a switch to more expensive sources of raw materials. It is specified that in Austria, GDP may decrease by 0.4%.

The publication reports that this situation turned out to be beneficial for China, which will be able to purchase Russian aluminum at favorable prices. Subsequently, goods from aluminum processed in China will be shipped to Europe at a higher cost.

Exexpress emphasizes that instead of weakening Russia economically, a new sales market is being formed for China, and Europe is losing out exactly where it is already weak: in industrial competitiveness.

Useless jab: the 16th package of sanctions will change nothing for business in Russia

Companies have adapted to the restrictions, while EU-Russia trade has already sagged by two-thirds

On February 24, Vladimir Dzhabarov, first deputy head of the International Committee of the Federation Council, said that with the adoption of the 16th package of sanctions, the EU is increasing the pace of curtailing its economy. He clarified that with the introduction of new restrictions, it is Europe that is suffering the most.

Earlier in the day, the EU foreign ministers approved the 16th package of sanctions against Russia. It includes banning 13 banks from accessing the SWIFT system. Restrictions are also being imposed on the import of chromium, certain chemicals, and the maintenance of oil and gas refineries.