An initial squeeze on demand for Russian oil due to western sanctions was temporary but the country’s oil industry might have bigger problems.
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Articles on oil sanctions
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Government attempts to manage energy prices could actually create more volatility in oil and gas markets.
Price shocks are a feature of the global oil market, not a bug – and even when governments take many steps to grow supply or reduce demand, it can be years before prices ease.
The Biden administration hopes the threat of harsh sanctions from a united West will deter Putin from invading Ukraine. But Russia has a long history of using energy to divide the US and Europe.
The world’s most oil-abundant nation is heading for energy consumption levels not seen since the 1990s.
Top contributors
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Lecturer, Jackson School of International Studies, University of Washington
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Research Associate (Centre for Energy Economics Research and Policy), Heriot-Watt University
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Fellow, University of Surrey
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Research Associate (Centre for Energy Economics Research and Policy), Heriot-Watt University
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Research Affiliate at the Ed Snider Center for Enterprise and Markets, University of Maryland
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Energy Economist, University of Surrey
