People in Europe aren't realising how close to economic collapse they really are. In the UK, the government for the past few months had been increasing taxes to increase revenue. In one day they've reversed it with fuel duty cuts to try and reduce the cost of living.People in Germany panic buying in supermarkets.
The authorities claim people do not need to panic.
But I think people are smart to stock up in case there is a diesel shortage and distribution stalls.
It is not like Europe will run out of food with the sanctions. But food distribution might become harder.
The smart thing for China to do would be to replace these with export tariffs.