Russian oil companies are preparing to begin forced cuts in oil production. The “farewell” sanctions imposed by the Biden administration, targeting Gazprom Neft, Surgutneftegaz, and 180 tankers from the “shadow fleet,” have resulted in an oil surplus in Russia that cannot be exported abroad.

3 comments

1. Too little, too late

2. Why the fuck did he not do this 3 years ago?

3. Levels of sanctions develop over time. As Russia adapts to sanctions and works around them, you develop sanctions for their “work arounds”. Who they start to use to evade sanctions goes on the new list of sanctions and then a tranche of sanctions are announced. This is 5 or 6th wave of sanctions. Also it takes time to get information on shadow tankers.
   The oil companies different story.

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