A recent investigation by the Wall Street Journal found this month that there is a loophole allowing banned Russian crude oil to enter the US market. When sanctioned Russian oil is processed at a refinery in a country outside of Russia, it becomes a product of that country. In this case, Russia’s second largest oil and gas company, Lukoil, processes Russian crude at its Italian refinery and exports it to the US, where it is used by companies like ExxonMobil,…
