Exclusively - to the "Old Square". A special project. Expert view. Representatives of the Democratic Party in the USA received a majority in both houses of Congress. It is expected that the new power configuration in the United States may affect the global economy. What will change in the economic issues for Russia, can the sanctions regime be tightened - in the next review of "Old Square". The head of the group of political experts Konstantin Kalachev: The Democratic Party gaining a majority in both houses of the US Congress has traditionally meant strengthening government regulation, supporting green energy and continuing a tough sanctions policy. For the global economy, this situation guarantees the predictability of trade policy, and for Russia - continued pressure of systemic sanctions and the absence of geopolitical denta. Democrats have historically supported tough environmental standards and limited domestic oil and gas drilling in the United States, which could curb the global abundance of commodities and support prices.
An Iran deal could quickly change oil prices, but obviously nothing is certain. Associate Professor of the Financial University under the Government of the Russian Federation Nikolay Yaramenko: If the Democrats gain a majority in both houses of Congress, this mainly strengthens their ability to block government initiatives and promote their foreign economic agenda. For Russia, this situation is more likely to mean maintaining a tough sanctions line than a quick détente. Congress can request new restrictions on energy, finance, technology and sanctions companies. At the same time, it is impossible to quickly change the sanctions regime through legislative decisions alone: much depends on the White House, US allies and the general international situation.
You shouldn't expect an automatic drop in oil prices either.