The best way for the U.S. to go against Russia is to keep oil prices
low, so as to weaken its economy by prevent it making profits from oil.
In early 2014, Russia attacked the eastern Ukraine, and soon afterwards,
at the end of July, Obama and the EU jointly announced economic
sanctions against Russia, mainly hampering the country's oil, military
and financial sectors. Oil prices plunged to $26 from $102 in the wake
of the news. Now that Belarus is experiencing political turbulence with
the support from Russia, it is expected that Biden will take advantage
of the situation to battle with Russia after he takes office. In
addition, as Biden stands a good chance of rejoining in the Iran nuclear
deal, the tension in the Middle East will ease off, which also
penalizes oil prices.
Moreover, possible vaccines are still the focus of the market because
oil prices may swell once vaccines get flights back on track. On August
10, gold prices slumped by $166 amid the news that Russia registered its
vaccine. Such an upbeat news, however, trimmed oil from $43 to $36.1
rather than sending it drastic upsides. I believe the retaliatory rally
in oil prices from -$40 to $43.78 is actually a reflection for this
account. Therefore, oil prices may not see further rally even hearing
the news of economic recovery and resumed flights amid available
vaccines. Conversely, oil prices should also be uninspiring even the
U.S. policies towards Russia turn extremely hawkish after the Democrats
return to power.