Energy sanctions exclusions not enough to keep money flowing to Russia


Aggressive sanctions on Russia have left loopholes to pay for essential oil and gas supplies that power European and global economies. But the companies are instead going above and beyond, affixing a toxic label to anything involving Russia, shunning its oil, refusing to carry insurance and cutting off financial dealings even with entities not on the sanctions list.

The result is greater financial pressure on Russia, potentially triggering bankruptcies in industries that cannot access cash or pay their bills. Other unintended consequences include rising prices for energy and crops like wheat, triggering greater inflation in the global economy.


Wj

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