Sanctions on Russian oil not working – analysts ...News

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Sanctions on Russian oil not working – analysts
The restrictions were invented by bureaucrats who do not understand how oil markets work, industry experts tell CNBC Sanctions imposed by the West on Russian crude oil exports have so far “failed completely,” and new price caps could also prove ineffective, according to a CNBC report on Friday, citing analysts. The conclusions come as the European Union plans to ban imports of Russian refined petroleum products, including diesel and jet fuel, from February 5. The bloc had already prohibited imports of seaborne crude oil from Moscow in December. The EU, G7 countries, and Australia have also set a $60-per-barrel pri

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