By The United States has imposed new sanctions on Russia and Iran, targeting their lucrative oil exports. The sanctions aim to disrupt the clandestine networks of tankers used by both countries to transport oil. Despite these efforts, Russia and Iran have managed to maintain significant oil exports, with Russia supplying China with substantial amounts.
The new sanctions have led to a decrease in oil imports to China, resulting in a global shortage and rising oil prices. The US has blacklisted 183 tankers involved in transporting Russian and Iranian oil, as well as two Russian oil companies. Experts predict that Russia and Iran will find ways to circumvent the sanctions, but the move is expected to further strain global oil supplies.
The impact of the sanctions on oil prices is uncertain, but experts warn that tighter sanctions could lead to higher prices. The US may impose further sanctions on Iran’s oil sector, and Russia’s oil exports may also face increased scrutiny. As the global oil market navigates these challenges, prices are likely to remain volatile.
