Skip to content
Subscriber Only
Markets
Economics

Trump’s Oil Sanctions Leave Russian Exporters $1 Billion Richer

  • U.S. sanctions on Iran, Venezuela boost demand for Russian oil
  • Urals blend of crude now regularly trades as premium to Brent
An oil drilling rig near Almetyevsk, Tatarstan, Russia.
An oil drilling rig near Almetyevsk, Tatarstan, Russia.Photographer: Andrey Rudakov/Bloomberg
Updated on

Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here

U.S. President Donald Trump’s sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil, boosting revenues for the nation’s exporters.