‘Toothless’ sanctions
Why the world’s largest waste management company made a $3 billion bet on the US.
Current Access Level “I” – ID Only: CUID holders, alumni, and approved guests only
Past Event
April 1, 2020
12:00 pm - 1:00 pm
This event is presented by The Inter-American Dialogue and co-sponsored by the Center on Global Energy Policy and Holland & Knight. To register, please visit link above. World energy markets have been upended in recent weeks by a historic collision of factors. Just as the Covid-19 pandemic takes hold and economic activity grinds to a halt across the globe, an oil price war following the failure by Saudi Arabia and Russia to agree on supply cuts are contributing to an oversupplied market. These twin forces have driven oil prices to lows not seen since 2003, with potentially dire implications for oil-exporting Latin American economies, several of which rely on oil revenues for substantial shares of their budget. Meanwhile, sustained low oil prices could damage the competitiveness of renewable energy projects, which may also find financing increasingly difficult to obtain as investors flee emerging markets to safe haven assets. Many energy projects are seeking to declare force majeure as supply chains, labor forces, regulatory processes, and financing are disrupted. Join us for a webinar that will explore what may lie ahead for Latin America’s energy sector during this turbulent period and beyond. Follow this event on Twitter at #DialogueEnergy and @The_Dialogue. Submit questions via the “Chat” function in Zoom during the event or by emailing [email protected]. Speakers: • Mauricio Cárdenas, Visiting Senior Research Scholar, Columbia SIPA Center on Global Energy Policy; Former Minister of Mines and Energy of Colombia (@MauricioCard) • Camila Ramos, Managing Director, Clean Energy Latin America • José Zapata, Partner, Holland & Knight Colombia Moderator: • Lisa Viscidi, Program Director, Energy, Climate Change & Extractive Industries, Inter-American Dialogue (@lviscidi)
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Last month, the Trump administration imposed fresh sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, signaling a renewed desire to drive Moscow to the negotiating table in its war against Ukraine. But although these measures have the potential to harm the Russian economy, just how much damage they inflict will depend largely on one actor: Beijing. China bought almost half the oil Russia exported in 2024, evading Washington’s existing restrictions in the process. And new sanctions alone will do little to push China into significantly reducing its purchases.
Connecticut needs an honest debate, and fresh thinking, to shape a climate strategy fit for today, not 2022.