Sanctions continue to be ineffective.
Surprise surprise
According to StanChart, the new restrictions roughly triple the number of directly sanctioned Russian crude oil tankers, enough to affect around 900 thousand barrels per day (kb/d). Whereas it’s highly likely that Russia will try to circumvent the sanctions by employing even more shadow fleet tankers and ship-to-ship transfers, StanChart sees 500kb/d of displacements over the next six months.
Zin Note: So basically, the new sanctions may lower Russian oil exports by about 10%, but the sanctions themselves have caused global oil prices to rise more than 10% since they were announced. Even if the sanctions act as Standard Chartered predicts, Russian oil revenue will be about the same as it was before the sanctions...
In other news, the volume of Russian oil exports fell last year, but overall revenue was higher than in 2023.
Christ I wish my country was good and intelligent, friendly, sensible, humane and an asset to the world. All my life I believed it was. All my life. Until this last few years... maybe since the twin towers, that's when it all began to crumble... look at it now... we support systematic wholesale deliberate murder of women and children.... and that's merely the latest example of what we do.... what's next I don't know... maybe they'll arrest me for saying only this....
And the biggest hurt? The saddest thing? It couldn't be like this if we the people hadn't let it, don't continue to let it....
I've known what my own government was from a very young age. I'm now nearly 60, I've witnessed my own government do more destruction to my fellow citizens for standards of living for decades. I stopped pointing these realities out over 20 years ago to most people. Only a close circle of lifelong friends know & agree the real situation. It's been constant lies, corruption, political scandal one after another. I find it absolutely staggering the amount of people that are still totally brain washed. Despite the the thousands of incidents to prove how stupid they are. I've been a huge outspoken supporter of Russia & it's President for a very long time. Which had caused a lot of controversy even with some family members. It gives me no pleasure to say I told you so. I'd much rather the brain dead brain washed masses would wake up to reality.