Russian economy has officially been declining over the past months, however, some new recent developments in Russia has appeared. Sanctions was and is a tool to effectively use against any country or individual or institution to stop their progress. Russia, today, is the most sanctioned country in the entire world, leaving North Korea or Iran in dusts. Despite Russia having so many sanctions, with over 14,000 sanctions, it seems that Russia is still functioning as without having any sanctions, at all.
However, president Zelenskyy realized the EU’s decision to cease sanctions against Russia, a video was made by him explaining as to why sanctions must be resumed:
Europe has put oil price cap on Russian oil, Europe was one of the biggest buyers of Russian oil, however, things have changed, and very little of Russian oil is entering Europe, as of today. Russian economy strives upon energy exports, such as diesel, petrol, electricity, gas. Since Europe has basically stopped buying Russian oil, Russia was forced to do trades with other countries, such as China and India.