The price of oil has jumped to its highest level since the 2008 global financial crisis. That's amid reports that the US and Europe are considering their toughest sanctions yet: a ban on Russian oil and gas imports. The sale of fossil fuels is Russia's most important industry. A boycott would starve Moscow of the revenues that account for more than a third of its spending.

Han Tan, chief market analyst at the Exinity Group joined us from Abu Dhabi.

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