How Long Can US Oil Sanctions Keep Hurting Russia?
Urals crude tumbled to about $34 a barrel at the point of export last week, a deep discount to international benchmarks.
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Welcome to our guide to the commodities driving the global economy. Today, Europe oil team leader Alaric Nightingale analyzes the recent plunge in Russian crude prices. Energy Daily will take a Christmas break over the coming days, returning on Jan. 5. Happy holidays!
Right here, right now, US sanctions on Russian oil are hurting the Kremlin, which needs the revenues to fund its war in Ukraine. The question is: How great is the pain, and how long will it last?