CapIns - The Russian invasion of Ukraine may finally impose substantial economic consequences on Vladimir Putin’s regime. Recent reports suggest that the European Union (EU) is intensifying its stance against Russia. Although Western sanctions have aimed to cripple Russia’s economy and military production, loopholes have allowed Moscow to bypass many of these restrictions. In 2024, Russia’s export revenues from hydrocarbons and metals reached record levels, with increased shipments of Russian LNG to the EU. While pipeline gas exports to Europe have declined, particularly after the termination of a key transit deal with Ukraine, Russian LNG has largely been unaffected. This scenario, however, is poised to change. The re-election of Donald Trump as the 47th U.S. president, combined with a global surge in LNG production, has emboldened Brussels to target the economic foundations of Putin’s regime. Following U.S.-UK sanctions that reduced Moscow’s maritime oil export capacity by 25-4...