Even more striking is the extent to which Russia's export machine has become less reliant on the West's shipping and financing infrastructure, and has therefore escaped the scope of sanctions. As we report this week, a shadow trade that uses a parallel system is booming. Before December, more than half of western Russian crude was handled by a European shipping or financing firm. That share has since fallen to 36%. As more Russian oil flows outside the West's control, blockades will become even less effective. For the West, the lesson is that sanctions are no substitute for sending Ukraine more money and arms. Shunning Russia's oil will not win the war. (The Economist)
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