J.P. Morgan Research projects a high risk of large energy supply disruptions, with Brent oil price to remain elevated between $100-185 bbl given the possibility of more severe sanctions. J.P. Morgan Research views the macroeconomic impact largely through the commodity markets, while the financial linkages between Russia and the rest of the world are comparatively smaller. Russia’s invasion of Ukraine will slow global growth and raise inflation. House of Representatives approving this measure on March 17. The G7 also announced plans to strip Russia of ‘most favored nation’ status, with the U.S. The UK pledged to phase out Russian oil imports by the end of the year while the EU unveiled a new energy security proposal to diversify supply away from Russia, focusing on LNG and pipeline gas supply.
President Biden signed an executive order to ban the import of Russian oil, liquefied natural gas (LNG), and coal to the United States and also banned new U.S. The global coordination of sanctions has included the European Union (EU), the U.S., the U.K., Canada, Switzerland, Japan, Australia and Taiwan. The Russian ruble continues to reach all-time lows and the Russian equity market has remained closed since February 25, while oil has surged over the $130 per barrel (bbl) mark for the first time since 2008 and gas prices have spiked to all-time highs. The Russian invasion of Ukraine on February 24 kicked off historic policy actions and moves across global markets. Please enter a valid search, no special characters allowed.
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