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Russian Oil Shock - Joe Blogs
The war in Iran is sending shockwaves through the global oil market… but one of the biggest unintended consequences is something very few people are talking about.
Despite years of sanctions, Russia is now making billions of dollars from oil sales — and in some cases, it’s even selling oil at a premium above global prices.
At the same time, the US has taken the extraordinary step of allowing previously sanctioned Russian and Iranian oil back into the market to try to stabilize supply and keep prices under control.
So what’s really going on?
In this video, I break down:
• Why oil prices have surged back towards $100 per barrel
• How the war in Iran is disrupting global supply
• Why the US has issued waivers on Russian and Iranian oil
• How India has stepped in to buy huge volumes of oil
• Why Russian oil is now selling at a premium instead of a discount
• How this is generating billions in revenue for Russia
• And what this means for the global economy and the war in Ukraine