The recent sanctions placed on Russia have proven that the role it plays in the global economic order is much greater than is commonly thought.
The European Union has agreed on a sixth package of sanctions on Moscow after weeks of intense negotiations. The key component is the termination of Russian oil shipments delivered to the bloc's market by sea by the end of this year.
According to Ursula von der Leyen, President of the European Commission, this will cut Russian supply to the EU by 90%, with the remaining 10% set to be cut in the future.
Although the percentage share is arguable, the assessment of European Council President Charles Michel, who proposed a ban on two-thirds of Russian raw materials, appears to be more plausible. For Russia, the most important factor so far has been quality rather than quantity.
Pipeline lines, unlike maritime ones, cannot be rerouted; a ban would have resulted in the Druzhba pipeline being decommissioned and this distribution meth...