EU Sanctions Envoy Paints Grim Picture for Russia's Economy

David O'Sullivan, the EU's sanctions envoy, discusses the challenges of enforcing sanctions against Russia and limiting circumvention by foreign companies supplying critical technologies to the Russian military. While acknowledging that there will always be some degree of circumvention, O'Sullivan highlights the success in making it harder and more expensive for Russia to access prohibited products. He also addresses concerns about Russia turning to substitute products from China and emphasizes the importance of pushing back against Russia's unprovoked invasion of Ukraine. O'Sullivan refutes claims that the sanctions are pointless, pointing to the impact on Russia's military technology acquisition, government revenue, and industrial capacity. He also addresses the loophole in Russian oil sanctions, explaining that while other countries can legally buy and sell Russian oil, measures have been taken to undermine Russia's revenue from oil exports.