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Podcast
Columbia Energy Exchange

Statoil Energy Perspective 2016 Edition

Eirik Wærness, Senior Vice President and Chief Economist at Statoil delivered a presentation and discussion on Statoil’s Energy Perspective 2016 Edition. The 2016 report focused on three scenarios: Reform which is based on the national climate targets of the Paris agreement (COP21), with further restrictive measures in the energy and climate policies over time; Renewal which outlines the most ambitious energy and climate goals; Rivalry which is impacted by geopolitical conflict and larger differences in the regional development, both with regard to economic development and transformation of the energy systems. *Eirik’s presentation can be found online at http://energypolicy.columbia.edu/events-calendar/statoil-energy-perspect…

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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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