Ukrainian President Volodymyr Zelensky is set to attend a UK Cabinet meeting to discuss strategies aimed at further disrupting Russian oil sales as the ongoing Russia-Ukraine conflict continues to reverberate through global oil markets. While critics of Western sanctions against Russia have argued against their effectiveness, Zelensky's presence at such a high-level meeting speaks to Ukraine’s push to weaken Russia’s economic foundation, which is heavily reliant on its oil exports. The timing of this initiative is curious.
Russia, in response to Western sanctions, has recently decided to cut its crude oil exports to retain more barrels for domestic refiners as the nation’s refineries come back online after maintenance and drone attack repairs. Russia’s oil exports are now at the lowest level since January, and will likely stay that way through the warm months, resulting in a fewer barrels offered to Asia, who has been feeding on Russia’s cheap crude since the sanctions began after Russia invaded Ukraine. if(window.
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push({ placementName: "oilprice_medrec_atf", slotId: "oilprice_medrec_atf" });';document.write(write_html);} While Russia sends more of its crude to its own refineries, it appears that the West, led by the UK, is doubling down on its efforts to further strain the Russian economy by targeting its oil sales. The Battle Over Energy Sanctions The primary focus of these sanctions is to cut off the financial l.