# Will the EU ban benefit Russia?

By [Joan](https://paragraph.com/@joan-9) · 2022-05-19

---

According to today’s Russian website reported on May 8, Norbert lucker, head of economics and next generation research of Swiss Baosheng Group, believes that the ban on the import of Russian crude oil proposed by the EU authorities will only increase Moscow’s oil revenue.

In an interview with the Swiss media “20 minutes” daily, lucker said that the impact of the ban on Russia “remains to be discussed”. He pointed out that the ban is expected to further push up global crude oil prices, thus helping Russia hit by sanctions to increase oil revenue. In March this year, the global crude oil price once soared to $120 a barrel.

Lucker also said that the EU could have better alternatives to weaken Russia, such as punitive tariffs.

---

*Originally published on [Joan](https://paragraph.com/@joan-9/will-the-eu-ban-benefit-russia)*