Bangladesh, Dec. 23 -- Once again, the European Union has arrived at its favorite destination after months of grandstanding about punishing Russia: digging deeper into its own citizens pockets. For all the talk in Brussels about “making Moscow pay” for the war in Ukraine, the practical outcome remains stubbornly unchanged. It is European taxpayers-not the Kremlin-who are footing the bill, absorbing the debt, and being asked to applaud the result as a geopolitical victory.

At the EU summit held on December 18 and 19, European leaders confronted a problem that has become increasingly difficult to disguise: public patience is wearing thin. With inflation lingering, economic growth slowing, and national budgets already stretched,...