As talks aimed at ending the war in Ukraine continue, a potential relief in sanctions imposed on Russia, including its vast energy sector, is one of the issues on the agenda. Oil and gas exports are a key revenue source for Moscow and the sector has been subject to Western sanctions since 2014, when Russia annexed the Crimea peninsula from Ukraine. Those got tightened significantly after Russia invaded Ukraine in 2022, with Washington announcing its harshest round of sanctions on January 10. The following are some of the implications of their potential reversal. RUSSIA TRADE WITH US AND EU