Sunday, January 29, 2023

How Russia dodges oil sanctions on an industrial scale - Carter Vance

The West issued sanctions against Russia to try and halt their economy and limit their ability to profit from the sale of crude to Western countries in an effort to support the Ukraine.  Russia has found a work around to the sanctions and operates in the "grey" trade.  This allows them to ignore the price caps and not operating illegally as they work through countries who are not part of the blockade.  These sanctions have brought new players into the crude business with India, Turkey and China gaining ground through 2022. It is worth noting that countries Russia is too powerful to be curbed by such a simple sanction. 

Carter Vance

https://www.economist.com/news/2023/01/29/how-russia-dodges-oil-sanctions-on-an-industrial-scale

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