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August 12, 2024The main issue with restrictions on Russian exports lies in the EU countries’ reluctance to pay higher prices.
This view was expressed by Samantha de Bendern, a research fellow at the Royal Institute of International Affairs, during a broadcast on LCI.
She explained that sanctions against Russia will only be effective when Europe switches to other suppliers, but such a move will impact the wallets of end consumers.
“The difficult choice isn’t just about gas: Europe imports 70% of the urea needed for fertilizers from Russia. In the year since the beginning of the Ukrainian conflict, these supplies have doubled. European producers have halted production because they cannot offer the same low prices,” she noted.
Nickel and lithium, which are essential for batteries in electric vehicles, have also escaped sanctions. Additionally, the European Union remains dependent on Russian uranium and is attempting to diversify its supply sources. Knowing this, Russia has started mining uranium in Africa and Kazakhstan to maintain its leading position.