The Globalist Will Russia benefit from energy-market turmoil?
Mar 11, 2026
Inzimam Rashid, Monocle’s Gulf correspondent reporting from the Strait of Hormuz. Vincent McAvinney, journalist and front-page analyst. They discuss possible US easing of oil sanctions and how that could shift Russia’s finances and the Ukraine war. On-the-ground risks in the Hormuz, mine threats and naval moves. Plus a roundup of global headlines, Ukraine tech and rising interest in EVs.
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Market-Calming Ideas Reveal No Cohesive US Plan
- The White House is experimenting with multiple short-term measures — India waivers, talk of escorts, strategic reserve options — without a clear, consistent strategy.
- Jenny Mathers notes mixed messages: a 30-day India licence, contradictory statements from officials, and depleted US reserves limit real options.
Oil Windfall Buffers But Doesn't Fix Russia's Economy
- Higher oil revenue helps Russia stabilise finances but won't cure systemic economic problems.
- Charles Hecker says extra cash tops up Russia's wealth fund, reduces oil company debt, and permits redirecting exports away from Europe for better prices.
Ships Idle Off Fujairah As Strait Of Hormuz Becomes Perilous
- Inzimam Rashid reports hundreds of ships anchored off Fujairah, avoiding the Strait of Hormuz amid threats and attacks.
- He describes tankers turning off transponders or staying well away because mines can sit at surface, submerged, or on the seabed.