Can Sanctions Curb Russia’s Oil Revenues?

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00:00Staying on the topics of sanctions, Russia has, in many ways, maneuvered around all of the sanctions on them.

00:07They're simply selling their oil over to China and to India.

00:12Right. Well, I mean, the most effective thing you could do, you know, I'm not saying that it's easy,

00:17but it is to try to turn that tap off, right, so that he doesn't get revenue from his energy industry,

00:23because that's without that, he's kind of cooked.

00:26And that's the one thing that he can't afford.

00:30But you're right.

00:32They haven't been particularly effective because they've had loopholes in there large enough to drive, you know, trucks through.

00:39And, you know, you can't say you can't purchase Russian oil and then in the same sentence say,

00:47well, you can if it's refined elsewhere. Right. Which is what's happening.

00:50Look, even the U.S. has been buying Russian oil that's been refined in other parts of the world,

00:55whether it's India or anywhere else.

00:59That's not very helpful. Right. And the EU. Right. The EU is having a hard time weaning themselves off of Russian oil.

01:05So if you if they were able to enforce that part of it. Right.

01:13And I think that the EU has come up with like its 19th sanction package. Right.

01:17And part of it is they're targeting the shadow fleet and some other steps.

01:21But if they were able to do that and if the EU was somehow able to stop its use of Russian oil and if they could stop China from,

01:30you know, purchasing Russian oil, then, yeah, then you've got a chance.

01:35But, you know, as you pointed out, it's a lot easier said than done.