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Oil

Russia’s Oil Keeps Flowing Despite Sanctions. That’s Exactly How the U.S. Wants It.

In order to avoid shocks to the energy sector, the U.S. and other Western nations maximized sanctions over the war with Ukraine without hurting Russia’s oil industry.

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Trump’s big oil crackdown ‘sounds like political theater’, says expert

President Trump has ordered the DOJ to investigate oil companies over claims they are too slow to lower gas prices despite falling crude costs. Karen Young, senior research scholar at Columbia University’s Center on Global Energy Policy, called the move “political theater,” saying that’s “not really how gasoline prices work” in the U.S.

News and Publications with Karen E. Young • CNBC • June 24, 2026
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