Russia and the servia union before it, are huge producers of natural resources. What is more important than having a channel through which to sell those natural resources in a way? And commodity traders provide that channel, which makesthem usualy important. The last round of sanctions were narrower compared to compared to the ones we see this time,. I mean, they did target the energy sector in so far as new investments in energy project that the us felt required western technology. But where they were most notable was going off to several of the oligarchs who we seen as being close to putin soy.
Russia’s invasion of Ukraine has laid bare the West’s reliance on Russian oil and gas. Around 40 per cent of Europe’s gas comes from Russia, while some 7 per cent of US oil is Russian. Journalists Javier Blas and Jack Farchy’s new book, The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources, tells the story of how trading commodities such as these has shaped the global financial landscape and why we find ourselves in a pivotal moment in which geopolitical and economic relationships are being tested. Investigative journalist and Manveen Rana speaks with Javier and Jack about the book and its wider themes.
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