The Impact of Russian Commercial Sanctions on Commodity Markets

I don't think the commercial sanctions against Russia are really what is biting. What's been biting Russia to your point are these financial sanctions. The fact that the rubles value has basically even cut in half. A lot of especially European and American companies are just afraid of doing business with Russian companies right now. They're expecting sanctions on the level of the Iran sanctions that the US has passed against Iran for a long time. For them, they're thinking pragmatically in about an opportunity.