• Russia is set to lose its status as a top global oil power under an EU embargo. 3 experts break it down: 'It could surely cripple the Russian oil and gas industry'

    17 days ago - By Business Insider

    US, Russia, China flags iStock/Getty Images Plus
    An oil embargo from the European Union could severely damage Russia's global standing and oil production.
    "An EU embargo on Russian energy would surely cripple the Russian oil and gas industry," a top oil analyst told Insider.
    Three experts broke down what could happen next, and Moscow's role as a premier oil power in the world economy.
    A European Union embargo on Russian oil would devastate production and topple Moscow as a top global oil power, experts told Insider. Due to Russia's limited ability to store unsold oil, an embargo would...
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