UK Business

Western sanctions haven't curbed Russian oil profits, but the green energy transition could

Written by Carole Nakhle, Energy Economist, University of Surrey

Oil tankers at sea.Avigator Fortuner/Shutterstock

Western sanctions that put a price cap on Russian oil exports from December 2022 aimed to cause the country significant economic pain after its invasion of Ukraine last year. The idea was to curtail the amount Russia makes from its oil while ensuring it continues to flow into the global market to...

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