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IEA says sanctions have low impact on Russian oil

Posted on 13 August 2014

US and EU sanctions on Russia’s oil sector are unlikely to have a major effect on production, the International Energy Agency said on Tuesday, chiming with comments from some market watchers that the restrictions are toothless.
“Neither set of sanctions will have any tangible near term impact on supplies. Even for the medium term, their impact appears questionable,” the energy watchdog for wealthy nations said in its widely-followed monthly oil market report………………………………..Full Article: Source


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