Sanctions are sinking Russia’s flagship gas project
Whether that lasts is up to Donald Trump
The West’s economic weapons are missing their target. Last month Russia exported near-record volumes of oil, at a decent price. But there is one exception. After shutting its main gas pipeline to Europe in 2022, Russia had hoped that Arctic LNG 2, an ultra-modern export facility, would open big new markets. Yet last month the plant suspended operations until next summer, for want of ships and buyers. Sanctions are nipping it in the bud.
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This article appeared in the Finance & economics section of the print edition under the headline “The ships are down”
Finance & economics November 9th 2024
- The return of Trumponomics excites markets but frightens the world
- What betting markets got right and wrong about Trump’s victory
- India is undergoing an astonishing stockmarket revolution
- Sanctions are sinking Russia’s flagship gas project
- Barbarians on the porch
- Big Macs, strawberry jam and the wealth of nations
From the November 9th 2024 edition
Discover stories from this section and more in the list of contents
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Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer
How Trump, Starmer and Macron can avoid a debt crunch
With deficits soaring, their finance ministers will have to be smart
What Scott Bessent’s appointment means for the Trump administration
The president-elect’s nominee for treasury secretary faces a gruelling job
What Donald Trump and Bernie Sanders get wrong about credit cards
Forget interest rates. Rewards are the real problem
Computers unleashed economic growth. Will artificial intelligence?
Two years after ChatGPT-3.5 arrived, progress has been slower than expected
Should investors just give up on stocks outside America?
No, but it is getting a lot harder to keep the faith