Europe and the United States are currently preparing ambitious new sanctions measures targeting Russia’s lucrative oil and gas exports, which play a crucial role in funding Putin’s war machine. However, it is not yet clear if Western leaders have the requisite political will to impose these measures in full.

Published on June 17 just hours after Russia carried out one of its deadliest missile and drone attacks on Kyiv, the EU’s new draft regulation on phasing out fossil fuel imports is arguably long overdue. If adopted, it would deprive the Kremlin of vital budget revenues and potentially prevent Russia from fracturing Europe’s unity through energy blackmail.