With the declining power of financial sanctions, many countries are now physically boarding ships to enforce scattershot rules of trade, conflict and commerce.
Articles on oil sanctions
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Venezuela relies on the black-market oil trade for a large chunk of its revenue. US enforcement actions may push down the price it can charge, further squeezing the country’s economy.
Iran’s rial fell against the dollar just as Trump was claiming victory. The 2 events are linked, argues an expert on the Iranian economy.
An initial squeeze on demand for Russian oil due to western sanctions was temporary but the country’s oil industry might have bigger problems.
Government attempts to manage energy prices could actually create more volatility in oil and gas markets.
Price shocks are a feature of the global oil market, not a bug – and even when governments take many steps to grow supply or reduce demand, it can be years before prices ease.
The Biden administration hopes the threat of harsh sanctions from a united West will deter Putin from invading Ukraine. But Russia has a long history of using energy to divide the US and Europe.
The world’s most oil-abundant nation is heading for energy consumption levels not seen since the 1990s.
Top contributors
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Assistant Professor of International Relations, American University
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Wallace S. Wilson Fellow in Latin American Energy Policy, Rice University
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Lecturer in International Studies, University of Washington
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Research Affiliate at the Ed Snider Center for Enterprise and Markets, University of Maryland
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Research Associate (Centre for Energy Economics Research and Policy), Heriot-Watt University
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Energy Economist, University of Surrey
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Lecturer in Energy Systems, University of Oxford
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Research Associate (Centre for Energy Economics Research and Policy), Heriot-Watt University
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Henry J. Leir Professor of Practice in Economics of the Middle East, Brandeis University