Save for later Print Download Share LinkedIn Twitter After the initial shocks from Russia’s invasion of Ukraine, the oil market is calmer despite high and volatile prices. But the brutalities of war might well force western politicians to punish Moscow with even tougher sanctions. It seems a matter of time before oil imports in Europe are restricted to deprive Russia of its major source of income. Such actions will send new shockwaves through the oil market. It would essentially lead oil consuming nations to limit oil use to counter Russia’s war as there will not be enough fuel to go around. Both supply and demand are at risk for the remainder of 2022.