Oil Traders Are Betting Trump’s New Sanctions on Russia Won’t Bite
Ample supply and skepticism on enforcement blunt the price impact of US restrictions on Lukoil and Rosneft.
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Welcome to our guide to the commodities driving the global economy. Today, Asian Oil Team Leader Serene Cheong looks at why the imposition of sanctions on a massive amount of crude doesn’t appear to be bothering the market.
Come Friday, US sanctions on Russia’s two biggest oil producers will take effect, jeopardizing about half the country’s crude exports.