The economist spoke about the impact of the new sanctions against Russia on the EU economy

The new sanctions measures of the European Union (EU) against Russia may lead to another round of economic and political confrontation, but their effectiveness remains questionable, Igbal Guliyev, Dean of the MGIMO Faculty of Financial Economics, Doctor of Economics, told Izvestia on July 8.

"On the one hand, Brussels and Paris expect that the new sanctions will deplete Russia's resources, hitting oil revenues and the participation of Russian financial structures in international operations. However, the key question is whether these measures will achieve the desired effect," the expert noted.

According to him, if the new package is not effective enough, the EU will have to consider additional steps.

"Fundamentally new tools are unlikely to be invented. Most likely, we will be talking about secondary sanctions, individual restrictions against businessmen, bankers or officials. However, most of the key figures are already on the sanctions lists," the economist explained.

Channel without communication: sanctions against Russia slow down the investigation of crimes in the EU

The financial intelligence services of a number of European countries still refuse to cooperate with Moscow.

The expert called restrictions on transport infrastructure the most likely measures, including a ban on Russian tankers' access to insurance and maintenance ports in the EU, as well as possible sanctions against liquefied natural gas (LNG).

At the same time, Guliyev stressed that any attacks on Russia's oil and gas sector would also affect Europe's energy security.

"Despite the decrease in dependence on Russian hydrocarbons, Russia remains an important player in the global energy market. New sanctions may provoke spikes in oil and gas prices," he warned.

In addition, other factors will affect the situation, including the decision of OPEC+ countries to increase production and possible changes in the US tariff policy.

"This may slow down the economy of a number of states, which, in turn, will affect the demand for energy resources," Guliyev summed up.

On July 7, French Foreign Minister Jean-Noel Barraud announced that the European Union was preparing to introduce a new package of anti-Russian sanctions, which could be the toughest in three years.