Banks not Tanks
Yesterday's sudden invasion of Ukraine will have major ramifications, not just for the energy markets, but also for the security of Europe. Broad sanctions have been enacted by the major economies of the world. The European Union, US, UK, Japan, South Korea, Canada and Australia among other countries have targeted key members of Russia's elite, banks and financial institutions, access to western technology and currency. However, sanctions have stopped short of direct restrictions on Russia's energy trade. So, what does this mean for the world, and not just tankers?
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