The United States is preparing broader sanctions against Russia that could affect the banking and energy sectors


The standoff between Russia and the West over Ukraine continues to raise concerns in global energy and commodity markets about possible new sanctions.

Brian O’Toole, a non-resident senior fellow at the Atlantic Council and former top US Treasury Department sanctions official, joined Platts editor Meghan Gordon to discuss sanctions the US and EU could impose if Russia invaded. He predicts a “broadening and deepening” of Western sanctions imposed in 2014.

They also discuss how penalties could differ if there is a perceived lesser threat such as a cyberattack and how the backdrop of rising energy prices makes the stakes so high.

Stick around after Jordan Blum’s interview with the Market Minute, a look at the drivers of the near-term oil market.

This podcast was produced by Meghan Gordon in Washington and Jennifer Perick in Houston.

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