. What would a U.S. ban on Russian oil mean for the world? « JO LEE MAGAZINE

Reuters – The possibility that the United States might ban Russian oil imports has triggered a surge in Brent crude to almost $140 a barrel, its highest level since 2008.

Russia is the world’s top exporter of crude and oil products combined, at around 7 million barrels per day (bpd ) or 7% of global supply. Such a ban would be unprecedented, turbocharging already sky-high prices and risking inflationary shock.

Read more at Reuters

Comments are closed.