Economist Oleg Ustenko believes that an effective means of pressure on Russia is sanctions against its energy sector, particularly oil. He warns against expecting a swift collapse of the Russian economy but emphasizes that consistent pressure on this sector can significantly undermine the Kremlin's ability to finance the war. He stated this in an interview on journalist Yuri Romanenko's channel.
'Some of them are just, well, simply fantastically primitive, like let's refuse to buy Russian caviar... and ban the sale of Russian vodka. I'm not saying this shouldn't have been done, it's symbolic, but it resembles more of a symbolic spit in the face or... a slap on the back of the head, nothing more,' Ustenko noted.
According to Ustenko, financial sanctions have had the most effective impact on the Russian economy, but the energy sector remains the most vulnerable, as it is the main source of revenue for the Russian budget. He also emphasized that it is the energy sector that creates a nervous effect for the Russian government, as this sector is key to the country's economy and regime stability.