Exempting Russian oil sanctions is a short-term painkiller but a long-term landmine.

CoinWorld News, CITIC Securities Research Report states that global oil inventories have sharply decreased, intensifying the risk of energy shortages. The conflict between the US, Israel, and Iran has led to disruptions in the Strait of Hormuz, causing global oil inventories to decline at a record pace, and the risk of summer energy shortages has increased. The market relies on excess inventories from earlier periods, exemptions from Russian oil sanctions, and the temporary release of strategic oil reserves by multiple countries to buffer the pressure; high oil prices have also triggered a global reduction in oil demand. Currently, international oil prices are fluctuating at high levels, with US refined product prices reaching multi-year highs, and oil products in several Asian energy-importing regions are on the brink of shortages, dragging down regional economic growth. Oil prices may still have significant upward potential, and accelerating the development of renewable energy has become a long-term strategy for countries to mitigate energy risks.