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Podcast
Columbia Energy Exchange

Medium Term Oil Market Report

Guest

Dr. Fatih Birol

On February 22, 2016 the International Energy Agency (IEA) released its Medium Term Oil Market Report, projecting how global oil supply, demand and trade will evolve over the next five years at a time of historic upheaval in the global oil market. And oil is just one of the ways the global energy system is being transformed by new technologies, shifts in traditional supply and demand dynamics and growing concerns about climate change and energy poverty. On this episode of Columbia Energy Exchange, Dr. Fatih Birol, Executive Director of the International Energy Agency, sat down with host Jason Bordoff to discuss these and other changes shaping the global energy outlook.

This podcast was originally recorded on February 23, 2016.

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Oil

America’s Toothless Sanctions on Russian Oil

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.

Op-eds & Essays with Erica Downs & Richard Nephew Foreign Affairs • November 24, 2025
America’s Toothless Sanctions on Russian Oil
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