Russian economy nightmare as £348bn sanctions on Putin to stay despite ceasefire

David O'Sullivan (civil servant)eU sanctions envoy

They have obliged Russia to invest $10billion to constitute a parallel fleet of ships to transport its oil in circumvention of the G7-agreed oil price cap,

Mr O’Sullivan wrote

If sanctions are lifted we would absolutely consider if we can bring value,

said Mercuria CEO Marco Dunand

We do think it's going to be a year or two,

Vitol CEO Russell Hardy said of Europe's easing its sanctions regime

You're probably going to see some changes to pipeline flows, some countries may choose to import oil and others choose not to,

he added