AS THE Russia-Ukraine conflict drags on, commodities experts seem split on whether Washington will indeed step up sanctions against Moscow, more specifically secondary sanctions that could prevent other countries from buying Russian oil.

But there is consensus that if US President Joe Biden’s administration escalates its actions through the so-called secondary sanctions to choke more Russian oil - this may be on the horizon the longer the war drags on, reckoned managing partner of Singapore-based law firm Blackstone & Gold Baldev Bhinder - expect crude prices and inflationary pressures to ratchet up.

The spectre of such sanctions that will reduce Russia’s exports to the rest of the world will likely rise further if the Kremlin escalates its military actions significantly against Kyiv.