Russia Is too Big to Be Sanctioned on Energy: FGE's Fesharaki

The video discusses the complexities of sanctioning Russian oil and gas, highlighting the global dependency on Russian energy, especially in Europe. It explores the potential impact of geopolitical tensions, such as the Ukraine crisis and the Iran deal, on oil prices. The discussion includes Western sanctions on Russia, historical parallels to the 1970s energy crisis, and Europe's significant reliance on Russian gas. The video also addresses the challenges of redirecting LNG supplies from the US to Europe due to long-term contracts.

Why is Russia considered too large to sanction in terms of energy?

• Because it has the largest oil reserves in the world.

• Because the global market heavily relies on its energy supply.

• Because it has strong political alliances.

• Because it produces the cheapest oil.

What could potentially drive oil prices above $115 per barrel?

• A new trade agreement with China.

• A resolution to the Ukraine crisis.

• Increased production by OPEC countries.

• A lack of a deal with Iran and ongoing Ukraine crisis.

What action did the West take against Russia over the weekend?

• They increased oil imports from Russia.

• They froze the Russian Central Bank.

• They lifted all sanctions on Russia.

• They signed a new trade agreement with Russia.

How does the current energy market situation compare to the 1970s?

• Oil prices are more stable now than in the 1970s.

• There are fewer major players in the market now.

• The energy market is less influenced by geopolitics now.

• The US is now a major player alongside Russia and Saudi Arabia.

Which markets are primarily receiving Russian oil exports?

• South American markets.

• European markets.

• African markets.

• Eastern markets.

What percentage of European gas consumption comes from Russia?

• 70-80%

• 50-60%

• 10-20%

• 30-40%

Why can't the US easily redirect LNG exports from China to Europe?

• Because of logistical challenges.

• Because Europe doesn't need more LNG.

• Because of long-term contracts with China.

• Because European prices are lower.