The West has targeted Russia’s cash cow with two sets of dramatic sanctions. In December an embargo and price cap scheme was imposed on crude oil exports.
In February the more widely distributed oil products were hit with the same. But how big an impact will these sanctions have on the sector? Russia managed to export all the oil it previously sent to Europe to India and China instead. How effective are the sanctions? Will Russia be able to repeat the $280bn current account surplus this year now the oil price caps are in place and just how big is the sanctions leakage?
Join Ben Aris - editor in chief of bne IntelliNews in a panel discussion with two of the leading experts on Russia’s oil business:
Chris Weafer - founder and CEO of Macro Advisory, and a former head of research at half a dozen Moscow-based investment banks;
Christoph Ruehl - Senior Research Scholar at the Centre on Global Energy Policy, Columbia University, and the former chief economist at BP.
Watch it here on YouTube: HERE