It BeginsThe west sanctions Russia by cutting Russian banks access to SWFT. This will have interesting consequences. It will make it very difficult and quite awkward for
US and European customers of Russian oil & gas to make payments to Russia.
How long will Russia continue to supply their NATO customers without receiving
payment back? It makes for a very awkward situation all around. A freeze of
Russian finanacial assets plus their ability to conduct financial transactions could
cause a retaliatory freeze of nat gas & oil to their Western customers.
The conseuqences I should think would be another frenzied spike in nat gas & oil.
Vermillion is sitting right on the top of this powder keg and would be a major
benficiary if this were all to happen. Even if it doesn't go that far, I suspect
we are in for higher prices anyway.