Immediately after Russian troops attacked Ukraine in February 2022, a group of Western countries – including the U.S., EU states, Australia, Great Britain and Japan – imposed tough sanctions against Russia. French Economy Minister Bruno Le Maire announced on March 1, 2022, that the West would wage “an all-out economic and financial war against Russia.” However, even after more than nine months, the sanctioned state, Russia, shows only moderate signs of economic weakening. On the contrary, revenues from oil exports have amounted to about $20 billion per month until mid-2022, a significant increase of about one-third from $14.5 billion per month in 2021. Not only can the Russian government continue the war of aggression, but it is also liquid enough to manage without exporting gas to Western Europe.