skip to main content

Our response to the Covid-19 outbreak.

Research Library

Center for Energy Studies



Oil Price, Exchange Rates and the Convoluted Impact of Sanctions on Russia

Mark Agerton

Oil Price, Exchange Rates and the Convoluted Impact of Sanctions on Russia.

Since oil prices are denominated in dollars, as the dollar strengthens, oil prices fall for U.S. consumers, all else equal. But petroleum product purchases by consumers in most countries aren’t denominated in dollars, so the fall in dollar-denominated oil prices isn’t experienced in the same way for them, writes Mark Agerton, graduate fellow at the Center for Energy Studies, in a new Forbes blog. "This untold story has global implications for growth, national budgets and geopolitics."

Read "Oil Price, Exchange Rates and the Convoluted Impact of Sanctions on Russia" in the April 27, 2015, Forbes blog.