Three years into comprehensive international sanctions, this episode critically examines whether Russian sanctions are achieving their intended goals. We analyze the impact of sanctions on Russia through Moscow's sophisticated evasion tactics, including a massive shadow fleet that now handles 70% of Russian oil exports.

Despite EU sanctions on Russia and the G7 price cap mechanism, Russian oil revenues have actually increased 5% since 2023, raising fundamental questions about why sanctions on Russia haven't delivered expected results. From India's record-breaking oil imports to China's sustained demand, we explore how Asian markets have undermined EU sanctions effectiveness.

Through detailed analysis of enforcement gaps, ship-to-ship transfers, and maritime law loopholes, this episode reveals the complex reality behind current international sanctions policies and their unintended consequences for global energy markets.