The G7’s Russian oil price cap amounts to a subsidy for many of Asia’s biggest energy players: China, India, Saudi Arabia, and the UAE.
Geoeconomics
The unilateral and arbitrary use of sanctions undermined the international standing of the U.S. and has had material consequences.
Despite heavy sanctions, Vladimir Putin retains his grip on power and the will to fight in Ukraine.
Russia has eclipsed Iran, becoming the most sanctioned country after the invasion of Ukraine last month.