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Author Topic: Russian Fossil Fuel Revenues Double Despite Western Sanctions  (Read 605 times)

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Offline SperaInDeo

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  • Russian Fossil Fuel Revenues Double Despite Western Sanctions 

    https://www.zerohedge.com/geopolitical/russian-fossil-fuel-revenues-double-despite-western-sanctions

    Partial quote:


    Quote
    The longer Western sanctions isolate Russia and reduce energy supplies to European refiners. The higher energy prices will go. Even though Russian energy exports are declining, higher prices have enabled the country's state-owned oil and gas companies to double revenue, thus stabilizing the ruble and allowing financing for President Putin's military machine. 
    According to The Guardian, citing a new report of shipping movements by the Centre for Research on Energy and Clean Air (CREA), Russia has reaped a whopping €62 billion from oil, gas, and coal exports since the invasion of Ukraine began.  
    Russian exports to energy-stricken Europe totaled €44 billion in the last two months, compared with €140 billion for FY'21. The revenue surge comes as "Russia has continued to benefit from its stranglehold over Europe's energy supply, even while governments have frantically sought to prevent Vladimir Putin from using oil and gas as an economic weapon," CREA said.


    It's not even "cutting off your nose to spite your face" - Just plain old retarded foreign policy by the United States and Europe that hurts themselves and enriches their "enemies." But it pleases the Twits on Twitter who own nothing and can afford less than nothing.