Surviving The Sanctions

31 July 2026: Russia adjusts to changes in global oil markets. The Russia – Ukraine war started on 24 February 2022, when Moscow invaded its neighbor. The invasion triggered widespread condemnation, and a coalition of over 40 countries has imposed coordinated economic sanctions on Russia as a result. This international response consists primarily of the “G7+ coalition,” which includes all major Western economies and several key Asian and Pacific nations. Just last week, on July 23, the EU adopted its 21st (!) sanctions package since the invasion. The purpose of the sanctions is to restrict Russia’s ability to finance and sustain the war in Ukraine. The main targets are Moscow’s financial system, energy revenues, central bank reserves and military supply chains. The sanctions against Russia have been highly effective at causing long-term economic degradation and fiscal strain, but they have failed to stop the Kremlin’s battlefield operations in Ukraine. However, the sanctions have had a major impact on the tanker industry. In this weekly Opinion, we’ll discuss some of the key changes as well as the most recent developments. Please fill out the form to read the article.