Europe Hits Putin Where It Hurts

A ban on most oil imports from Russia will hit his war financing.

Review & Outlook: By invading Ukraine, Vladimir Putin has unified the NATO alliance, which will be stronger with Finland and Sweden as members. Images: Sputnik/TT News Agency/Lehtikuva/Reuters Composite: Mark Kelly
By
The Editorial Board

Behold, after a month of wrangling, the European Union’s 27 member states have agreed to a new package of sanctions targeting Russian oil. While the sanctions won’t turn the tide of war in Ukraine, they raise the cost for Vladimir Putin and demonstrate Europe’s resolve to punish him.

The new round of sanctions that Brussels announced this week will ban imports of Russian oil by sea as well as insurance for shipping companies that transport it globally. These combined measures could severely crimp oil sales that fuel Mr. Putin’s war machine and Russia’s economy, but they are also important political symbolism.

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