The US has spearheaded economic reprisals against Russia while the EU has lagged behind, the Ukrainian leader said The US is leading the charge on global sanctions against Russia, while EU nations have sometimes shown a lack of unity on the matter, Ukrainian President Volodymyr Zelensky has said.

The EU ban on Russian oil is expected to further inflate oil prices, increasing Moscow’s oil revenues The ban on imports of Russian crude proposed by the EU authorities will only raise Moscow’s oil revenues, according to Norbert Rucker, head of economics and next-generation research at Swiss wealth manager Julius Baer.

Aggressive sanctions against Russia are sending financial shockwaves through Germany Germany will be battered with a wave of bankruptcies due to Ukraine-related sanctions against Russia, according to Commerzbank Chief Executive Officer Manfred Knof.