An “effective” embargo on Russian oil and gas can force Vladimir Putin to stop the war in Ukraine, the Russian president’s former chief economic adviser has told the BBC.
If Western countries “would try to implement a real embargo on oil and gas exports from Russia … I would bet that probably within a month or two, Russian military operations in Ukraine, probably will be ceased, will be stopped,” said Dr Andrei Illarionov.
“It’s one of the very effective instruments still in the possession of the Western countries.”
He claimed that the threats of oil ban by the Western countries have been not taken “seriously” by Putin.
Europe imports about 40 per cent of its gas and 27 per cent of its oil needs from Russia.
Despite threatening to cut imports, many European countries have continued to purchase fuel, indirectly helping Putin to fund his war in Ukraine.
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This was highlighted recently by top EU diplomat Josep Borrell who said, “A billion [euros] is what we pay Putin every day for the energy he supplies us.”
A plethora of economic sanctions has so far failed to stop Putin’s war on Ukraine.
Dr Illarionov claimed that the Russian president was prepared to let the domestic economy hit hard by sanctions as he is blindsided by his “territorial ambitions”.
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“His territorial ambitions, his imperial ambitions, are much more important than anything else, including the livelihood of the Russian population and of the financial situation in the country… even the financial state of his government,” he was quoted as saying.
In the BBC interview, he also argued that a change of government is inevitable “sooner or later” as “it is absolutely impossible to have any positive future for Russia with the current political regime.”
(With inputs from agencies)
