In the latest episode of “Talking Trade,” Michael Best Strategies Principal Mike Dankler provides an update on the latest sanctions against Russia and the effect on trade and commodity prices.
“One area where the U.S. and EU and others haven’t really gone the full way is on energy,” he explained. “EU is just so reliant on Russian oil and gas that they can’t go too far yet without hurting themselves.”
Dankler said it’s uncertain how long it will take for certain sanctions on Russia to have a real impact on the war in Ukraine. He noted long-term export controls are expected to impact Russian factories, while banking sanctions recently announced by the United States “make a default almost imminent.”