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OIL: Russian Oil Price Cap Shows Limits Sanctions Use: Energy Aspects

OIL
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The Russian oil price cap shows the limits of the use of sanctions according to Energy Aspects during an inquiry into whether financial sanctions against Russia are working.

  • The price cap on Russian oil shows “we’re hitting up against the limits of the efficacy and the reach of sanctions, particularly without a willingness and appetite amongst governments to significantly disrupt flows,” said Richard Bronze at Energy Aspects.
  • “You have two competing aims, and the ‘not disrupting flows’ always seems to be the one that’s given precedence,” he added.
  • “The tool that was thought to be there, in terms of access to Western shipping and services, hasn’t proved anywhere near as effective as it was hoped.”
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The Russian oil price cap shows the limits of the use of sanctions according to Energy Aspects during an inquiry into whether financial sanctions against Russia are working.

  • The price cap on Russian oil shows “we’re hitting up against the limits of the efficacy and the reach of sanctions, particularly without a willingness and appetite amongst governments to significantly disrupt flows,” said Richard Bronze at Energy Aspects.
  • “You have two competing aims, and the ‘not disrupting flows’ always seems to be the one that’s given precedence,” he added.
  • “The tool that was thought to be there, in terms of access to Western shipping and services, hasn’t proved anywhere near as effective as it was hoped.”