Will new sanctions trigger a Russian recession?
With the economy already wobbling, further curtailment of investment in energy and other sectors would spell trouble
A further wave of US sanctions may spark a Russian recession, even though oil, income from which represents 40% of federal budget revenues, is trading at its highest level in more than four years. Russia has been able to weather sanctions imposed over the Kremlin's annexation of Crimea in 2014 largely because of the collapse in the rouble, which has greatly boosted export revenues. Oil producers have also mitigated the impact of sanctions by partly replacing Western sources of funding with domestic and Asian capital, as well as attempting to develop their own technology for shale, offshore and Artic deposits. However, new legislation from the US-dubbed the "sanctions bill from hell"-could se
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
