The EU outlined a sweeping plan to claw back some $140 billion in profits and revenues from companies enriched by soaring energy prices
Bloc’s executive arm plans to publish proposals on Wednesday but blueprint still needs approval from member countries
As the West scrambles to move away from Russian energy sources and imposes sanctions on Moscow, China and India have stepped in to fill the gap. WSJ examines how those countries have boosted Russia’s revenue from oil sales, supporting its economy.
The plan is among the broadest and most expensive defensive maneuvers that Brussels has orchestrated so far in response to economic pain Russia has inflicted on Europe in the standoff. Western powers have levied an array of sanctions against Russia to punish and deter Moscow amid its invasion of Ukraine.
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