Lates News

With the EU announcing new comprehensive sanctions against Russia, oil futures have gone down. The sanctions target banks, oil tankers, and buyers of Russian crude oil, while also lowering the price ceiling for crude oil. According to Mizuho Securities this week, the EU has implemented 18 rounds of sanctions since the outbreak of the conflict in Ukraine in 2022, but they have been "largely ineffective in stopping Russian oil exports." On the other hand, earlier this week, attacks by Ukraine on Russian oil facilities temporarily raised oil prices.