Why EU easing sanctions is too little too late

Inflationary pressures and the lack of gas in their storage tanks ahead of winter left little choice but to relax sanctions in the hope of bringing Russia to the negotiating table

The European Union (EU) has blinked first in its eyeball-to-eyeball confrontation with Russia. The EU has announced an easing of sanctions on Russian oil export, allowing Russian companies to ship oil to third countries. A statement by the EU Council on Thursday said that the EU will make it possible for Russian state-owned firms to engage in the necessary transactions to sell oil to EU nations.