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hi welcome back to Joe blogs this video is the next in a series looking at the financial implications of Russias invasion of Ukraine on the global economy and in todays video I want to look at the devastating impact that the sanctions are having on the Russian economy since the war started on the 24th of February 2022 there have been nine rounds of sanctions that have been introduced and each round of sanctions has built on the previous one but the sanctions that weve seen come into place over the course of the last couple of months have been truly the most devastating weve seen the European Union introduce a complete ban on the purchase of crude oil being transported Over the Sea and Then followed that up with a complete ban on the purchase of all refined products and in addition to those bands weve also seen oil price caps being introduced so in todays video I want to go through the impact of those bans and price caps so Ill have a quick recap on the current situation well t