MOSCOW: Global sanctions imposed on Ukraine over the war have not hurt the Russian economy, and its oil revenues have risen sharply.
Citing figures from the International Energy Agency (IEA), Bloomberg reports that Russia’s oil revenues have increased by almost 50 percent since the beginning of 2012. Moscow has cut crude oil prices this year. And they make about بیس 20 million a month selling oil products.
The IAEA said that despite Western sanctions, Russian oil supplies had increased, reaching about 8.1 million barrels per day in April, up from about 620,000 barrels per day in March to Ukraine. The crisis and the ensuing sanctions returned to normal.
According to the agency, due to rising demand, more oil shipments have been diverted to Asia, with China and India claiming that supplies that were intended to go elsewhere, as well as the European Union, despite its position, have so far failed to supply Russian fuel. Forty-three percent of the country’s oil exports went to the European bloc in April.
According to the agency, global energy markets, which are already strained by the uncertainty over Russian crude oil, could face further difficulties due to European sanctions on Russian oil and the lifting of the code lockdown by China. The agency estimates that global supply, which was already less than a million barrels last month, could triple in the second half of the year.