Trump is doing something good for Ukraine, at least.
Russia's economy is now feeling the pressure from oil sanctions that have finally kicked in as of November 21. Roughly about 80 to 100 million barrels of Russian oil is stuck on the high seas. Some of the oil they continue to produce has been placed in empty tankers, pushing up the price to rent existing tankers.
"The price of Russia’s flagship oil grade is down around 17% since the U.S. sanctions were announced as international demand drops....
The new U.S. measures have also left tens of millions of barrels of sanctioned oil stranded at sea and made shipping crude more expensive. Total oil on water—including crude in transit and stored in tankers—reached 1.4 billion barrels this week, according to Vortexa, an energy and shipping analytics firm....
About 240 million barrels of oil have built up on the sea since the end of August to mid-November, said David Wech, chief economist at Vortexa. Of those, roughly a third are sanctioned barrels—with some would-be buyers wary of taking delivery, at least temporarily.
https://www.wsj.com/finance/commodi...through-oil-markets-5de5d9b1?mod=hp_lead_pos2