The war in Ukraine has raged on for over a year now with no signs of Russian President Vladimir Putin backing down despite the onslaught of sanctions that continue to hit the Russian economy. A major target has been the Kremlin’s oil and gas revenues, but efforts to cut that income source are complicated by Russia’s outsized role in global oil markets.

Brian O’Toole, a nonresident senior fellow with the Atlantic Council, joined the podcast to discuss oil sanctions policy and how the US strategy against Russia is faring. He also addressed the upcoming review of the price cap on Russian seaborne crude and provided an update on where US oil sanctions policy may head in Venezuela and Iran.

Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.