Opinion

Ukraine war: Russia’s waterborne crude and diesel exports remain resilient

Our weekly briefing series explores what the conflict means for the global economy and natural resources sectors

Our weekly series of Russia/Ukraine briefings is designed to keep you informed on the impact and challenges the war presents to the oil and gas, mining and metals, power and renewables, corporate and petrochemicals sectors.

This week our focus is on the EU's ban on Russian crude oil and product exports. We look at:

  • G7 and the EU’s continued political and military support of Ukraine. A negotiated settlement remains a remote possibility
  • Markets: how the war is adding to inflationary pressures through higher fuel and food costs, and how central banks are responding by tightening interest rates
  • The implications of the EU's proposal to ban Russian crude and oil products: the effect on diesel markets, price volatility and the risks posed to the slowing global economy
  • Corporate action: how oil and gas companies wrote down US$40 billion of Russian assets in Q1 results

Plus, a snapshot of the latest global geopolitical, economic and corporate implications of the ongoing conflict.

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