Audio Briefs Russian Oil Sanctions Demand Persistence
Jan 21, 2025
Clayton Seigle, an expert at CSIS and author on sanctions, dives into the complexities surrounding the U.S. sanctions on Russian oil. He analyzes their expected impact on export volumes and revenues, revealing the intricate dance between policy and market reactions. The discussion highlights the surging crude prices in response and sheds light on the creative schemes some are employing to dodge these sanctions. Seigle emphasizes the need for continued vigilance and persistence in enforcing these measures.
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Impact of Sanctions on Russian Oil
- New US sanctions target Russian oil interests, impacting Moscow's oil export volumes and revenues.
- Fraudulent schemes and deceptive trade practices will likely mitigate the sanctions' initial impact.
Market Reaction to Sanctions
- Sanctioning 183 oil tanker vessels significantly impacts the Russian oil trade.
- Middle Eastern and other crude exporters will likely benefit from increased demand.
Russian Oil Discounts and Remaining Exports
- Russian oil prices are expected to drop due to the sanctions.
- Over 1 million barrels/day of Russian crude will likely remain on the market despite the sanctions.