Russia, revenues from the sale of oil and gas will increase thanks to the boom in …

Russia, revenues from the sale of oil and gas will increase thanks to the boom in …

Russia expects a payout this year 38% more than 2021 thanks to oil and gas exports. Moscow plans to start collecting this year, according to a study by the Economy Ministry, reported by Portal agency $337 billion (€331 billion)just below a billion a day, a number consistent with figures for revenue collected in the first 100 days of the war. Although the amount of exported gas is decreasing (170 billion cubic meters compared to 185 billion in 2021), the prices that have now doubled mean that revenues are definitely increasing significantly. Instead of this oil the increase in demand Part of Asian countriesI have limited the impact of Western countries’ embargoes, starting with China and India. Specifically, the European one will only come into force in 4 months. This adaptation of the Russian oil industry to the new geopolitical context was also reported on a few days agoInternational Energy Agency. The proceeds are to be guaranteed through the sale of hydrocarbons down to 256 billion in 2023however, remains above the 244 billion earned in 2021.

Allies, trade triangulations and brilliant economists.  So Moscow has softened the blow of Western sanctions for the time being

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Allies, trade triangulations and brilliant economists. So Moscow has softened the blow of Western sanctions for the time being

In the second quarter of the year, the Russian economy suffered from a Shrinkage of 4%. A clear retreat, however less than expected. A 10% drop was estimated last March, which was then reduced to 9% in June and -4.8% just before the data was released. This is a sign that the sanctions are having less of an impact than initially assumed. Measures that have hit some industrial sectors hard (e.g. almost zero car production after the exodus of foreign brands), to which Russia seems, on the whole, to be adjusting and reacting better than expected. A development that is also underlined by the US bank JP Morgan, which expects a 3.5% decline in Russia’s GDP for the whole of 2022.

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