Sanctions Have Become Economic Warfare
Trump has now signed the sweeping Russia sanctions legislation championed by the late Senator Lindsey Graham. The bill passed the Senate 86-11 and the House 262-159, targeting Russian officials, banks, and the so-called shadow fleet transporting Russian energy. But the most dangerous provision is no
Source: Armstrong Economics
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DW NOTE
Shipping through the Strait is down 91%, global oil supply is dropping 5.7 million barrels per day, and the Fed just hiked for the first time in three years. WTI is at $92 — down 18% from its peak. That price only makes sense if traders believe sanctions will crater demand faster than the blockade can crater supply.