On May 6, EU officials proposed a 14th package of sanctions (Round 14 or R14) against Russia. The package may be symbolic in its economic reach, but it is material in political and geopolitical terms. It is worth running through a summary of the main economic (as opposed to political) measures, their potential impact on Russia, the EU and the West, and the way forward. The big set of sanctions was already enacted in prior rounds. These included: EU ban on imports of Russian oil and refined products, countered by Russia with curbs on exports of Russian gas. Since the…

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