State Duma Chairman Vyacheslav Volodin contends that the United States and the European Union have exhausted their options to impede Russia’s development. A spokesperson for the lower chamber shared this assessment via the Telegram channel on Saturday, June 4.
He notes that the EU has introduced its sixth package of sanctions against Russia. After reviewing these measures alongside earlier actions by Brussels and Washington, he argues that the toolkit available to hinder Russia’s growth has been exhausted. In his view, Western policymakers face a choice between options that are bad or very bad for their own economies and citizens as new restrictions loom.
Volodin cites expert estimates suggesting that a ban on Russian oil exports to Europe could cost as much as $22 billion annually. Yet, he argues that the figure could be offset by higher energy prices driven by sanctions and by Russia redirecting sales toward Asian markets. He even suggests the possibility that the Russian economy might face a period of struggle if restrictions persist.
According to him, Europe could end up paying more than 250 billion euros every year, not accounting for the additional costs of shifting enterprises to new oil brands amid record energy prices. He asserts that Washington is designed to push the main burden of sanctions onto Europe, weakening EU economies and increasing dependence on the United States, a move that undermines the autonomy many states previously sought.
In Volodin’s view, once sanctions are overcome, Russia would emerge stronger. The State Duma spokesperson adds that European economists nevertheless rank differently, with some analyses projecting that the EU oil embargo would trim Russia’s energy revenues by between 60 and 80 billion euros annually. The Der Spiegel report notes that the embargo is to be implemented in six months, but many importers may act earlier, reallocating contracts before they lapse.
Market dynamics show no sign of panic in oil trading. Brent benchmarks have softened even as sanctions take effect, according to the same coverage.
“For Bucha and Mariupol”
Beyond the oil embargo, the EU’s sixth package tightens the noose by suspending certain banks from the SWIFT system for selected cases and halting the broadcast of Russia-24, RTR-Planeta, and TV-Center channels within EU territory. The package also curbs consulting, auditing, and public relations services and restricts access to cloud platforms.
The sanctions broaden the restrictions on dual-use goods and technology, extending bans to suppliers in Russia and Belarus. The EU aims to prohibit the export of nearly 80 chemical components that could be used in weaponization processes, tightening control over sensitive materials.
The revised sanctions regime also renews the blacklist of individuals and organizations facing entry bans, asset freezes, and prohibition on funds within EU member states. The bloc has indicated that those linked to the events in Bucha and Mariupol, along with sponsors of related operations in Ukraine, will be placed on the list, including prominent business figures and their family members.