Money Talks

Oil prices jump as sanctions mount on major crude exporter, Russia


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Oil prices have shot up amid mounting sanctions on Russia, one of the world's largest oil exporters. International crude benchmark Brent is back up above $100 a barrel. Around a tenth of the world's crude comes from Russia. The reliability of that supply is now in doubt due to the latest round of economic penalties. Those include the removal of Russian banks from the global payments messaging system known as Swift, as well as restrictions on the central bank in Moscow. Russia's growing economic isolation has also sent its currency, ruble, crashing by around 30%.
Han Tan joined us live during the programme. He's the chief market analyst at the Exinity Group in Abu Dhabi.
#RussiaUkraineWar #RussiaEconomicSanctions #OilMarketImpact
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