Russia is reaping bumper revenue from oil and gas sales — but Iran and Venezuela should serve as cautionary tales for Moscow's oil industry in the longer run
have stepped in to buy Russian oil shunned by the rest of the international community, it's unlikely that Moscow will be able to find buyers for all the oil it sells to the EU, said Henning Gloystein, the director for energy, climate, and resources at the Eurasia Group, a risk consultancy.
In Venezuela, the degradation of its oil infrastructure has already hurt the quality of the crude grades it exports, resulting in price discounts and shipping delays,In Iran, oil embargos and technological restrictions have sent the industry into a state of chronic underinvestment, according to Schroders.
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