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Navigating Russia #2: Putin's New Dilemma - What Does Russia Do if the West Stops Buying its Oil?
My essay in Politico on how the rigidity of Russian oil holds the key to smart sanctions
Vladimir Putin appears to have been caught off guard by the recent recent shift in Western sentiment towards a Russian oil embargo. In response, he has urgently tasked his ministers to develop plans for new export infrastructure that would expand access to “friendly” markets. But the urgency of his call for projects that would be many years in the making only highlights Russian oil’s current dependency on the West—a vulnerability that holds the key to smart oil sanctions.