Energy Markets
Will US sanctions against Russian oil work? Russell
The crude oil market has a common belief that sanctions by the West against Russia's exports have little effect, as the market finds ways to keep the cargoes flowing. It means that new measures will only have a temporary impact on prices. This is due to the fact that the flow of goods and services has been virtually unaffected. It is possible that the same dynamics are at work with President Donald Trump’s latest sanctions announced last week against Russia’s two biggest oil companies, Lukoil, and Rosneft. The two largest producers produce about 5% of all crude oil produced worldwide,...