Russia’s $118 Billion Arctic Oil Bet Pushes Ahead Despite Sanctions
For the Kremlin, the giant Vostok Oil project in the frigid Far North is crucial to two goals: bolstering Russia’s presence in the Arctic and keeping production of the key export commodity going as reserves in more accessible parts of the country are depleted. It’s also a case study of how a huge, s
Source: OilPrice.com
―
DW NOTE
Russia is building a $118 billion Arctic oil complex while the West sanctions its existing production and Iran keeps 17% of global supply landlocked behind Hormuz. The sanction theory was that isolation kills ambition. The practice is that it relocates it to places no Western service company will operate and no Western auditor will ever see.