em fx
The Madness of EU Transshipments to Russia
From the original
More than four years after the invasion, transshipments to Russia continue unabated
Related speeches
4 itemsRobin J Brooks
Europe Needs to Blockade Russia in the Baltic
Robin J Brooks
Greek Sabotage of EU Sanctions on Russia
Robin J Brooks
Russia's Massive Oil Price Windfall
JPMORGAN GLOBAL RESEARCHJ.P. Morgan Global Research
Global Commodities: A sense of déjà vu
The desk observes that the recent escalation in geopolitical tensions related to the Strait of Hormuz and ongoing drone attacks on Russian refineries indicate a heightened risk environment for commodities, particularly crude oil and gas. Per the full note from J.P. Morgan Global Research, the impact of these events has seen crude oil flows decline by 31%, exposing vulnerabilities in supply chains. The implications for FX are significant, particularly for currencies heavily correlated with commodity performance, such as the CAD and AUD, given their reliance on energy exports.