How Russia Is Surviving the Tightening Grip on Its Oil Revenue

The gradual ratcheting up of oil sanctions, which are designed to cut Russia’s oil export revenues without snuffing out a fragile global pandemic recovery, is a policy that analysts say could take years to bear fruit.

“Sanctions, in general, are more like a marathon than a sprint,” said Edward Fishman, a former State Department sanctions official. “Now that these sanctions are in place on Russia’s oil sector, I think you have got to assume they are a permanent fixture of the market.” A year since the start of the war, Russia has been able to keep its oil flowing.

Read the full story and more from The New York Times.