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I think, there are many misconceptions about the effects of the drone attacks on Russian refineries. Trying to clear them open.substack.com/pub/svakulenko…

How many ships serve Russian oil trade? Is there an exclusive fleet? How old are these ships? How does that compare to the state of the global tanker fleet in general? What about oil spills? Please find the answers in this new article. carnegieendowment.org/russia-eurasia…

"As the latest U.S. sanctions make it even harder for Russian businesses to settle international payments, they are being forced to use ancient methods like hawala." Sergey Vakulenko explains why the official ruble exchange rate now matters less. carnegieendowment.org/russia-eurasia…

Russian gas transit via Ukraine was the most important economic link between USSR and Western Europe, then a bone of contention between Russia and Ukraine, and now it just stopped quietly. Here is my take on what it means and why it happened that way. carnegieendowment.org/russia-eurasia…

How will the latest round of 🇺🇸 sanctions affect 🇷🇺 oil & gas sector? And will it help Donald J. Trump leverage for talks with the Kremlin? Tune in to latest episode of Carnegie Politika for some clues. I'm joined by inimitable Sergey Vakulenko & Tatiana Mitrova. carnegieendowment.org/podcasts/carne…

Gazprom is using its oil arm to cover the deficit between operating and investment cash flows. But there is still not enough revenue to finance its entire ambitious investment program. Sergey Vakulenko on the state gas giant's losses and profits: carnegieendowment.org/russia-eurasia…