«`html

Martin Wiggen: The Impact of Russian Sanctions on Oil Markets

In a significant shift for the global oil market, recent U.S. sanctions targeting major Russian producers are poised to create substantial changes in supply dynamics. As a result, oil prices are on track to record their largest weekly gain since June.

The sanctions have particularly affected key players in the Russian oil sector, including Rosneft PJSC and Lukoil PJSC. Following the implementation of these penalties, crude oil shipments from Russia to India, one of its primary buyers, are expected to see a dramatic decline. Additionally, several state-owned refiners in China have responded by canceling their planned purchases of Russian crude, further tightening the market.

Nadia Martin Wiggen, the Director at Svelland Capital, recently shared her insights on this developing situation during an interview with Joumanna Bercetche, the anchor for Bloomberg’s Horizons Middle East and Africa. Wiggen’s analysis highlights the intricate interplay between geopolitical events and market reactions, emphasizing the importance of timing in the enforcement of such sanctions.

As the situation unfolds, industry stakeholders are closely monitoring these developments, which could have far-reaching implications for oil supply and pricing in the months to come.

«`

Source: Original