For a long time, oil and gas sales were the Russian economy’s main source of income. Since the start of the full-scale invasion of Ukraine, the EU and U.S. have unleashed unprecedented sanctions upon the Russian energy sector. The effectiveness of this pressure is hotly debated, since Russia has proved able to continue its assault.

What is the current state of the Russian oil and gas sector? How have the last three years changed Russia’s approach to selling energy commodities, and how have developments affected the global energy market?

Check out Sergey’s piece on the Russian shadow fleet for Carnegie Politika – https://carnegieendowment.org/russia-eurasia/politika/2024/09/russia-oil-fleet-sanctions?lang=en¢er=russia-eurasia

And Sergey’s piece for Financial Times (subject to a paywall) – https://www.ft.com/content/68403277-9cda-491c-aeeb-7dbe77850df6

No Silver Bullet: The Effect of Russian Energy Sanctions, With Sergey Vakulenko and Tatiana Mitrova