How much is Russia losing on energy exports?

on

|

views

and

comments

With sanctions and fluctuating energy prices, Russia is losing revenue. How much is Russia’s current account surplus shrinking due to reduced oil and gas sales?

There Russia recorded your youngest current account surplus in more than a year since the new restrictions on its oil export they jeopardize what became a crucial source of hard currency for the Kremlin after the invasion of Ukraine.

The sanctions so are they working? What does the latest data on safe deposit boxes put on of energy revenue.

Russia loses valuable revenue from energy exports

The current account surplus – roughly the difference between exports and imports – fell to $31.4 billion in the fourth quarter from $48 billion in the previous three months, according to preliminary central bank data released on Tuesday.

Year-to-date, the surplus was lower than the central bank’s latest forecast. Reached a record $227.4 billion, with money coming from exports of oil, gas and other commodities inflows while imports remained depressed due to sanctions.

However, by imposing sanctions, including import bans and a limit on sea shipments of Russian oil, Western countries are now aiming to reduce the flow of oil. petrodollars towards the Kremlin.

Bloomberg Economics points out that: “the decline of global energy pricescompounded by an increase in the discount for the Russian Urals, canceled $20 billion in revenue To export. The balance is expected to weaken further this year, defying authorities’ efforts to stabilize the ruble and theinflation.”

Source: Money It

Share this
Tags

Must-read

Anti-democratic drift in Brazil: what is happening

In Brazil, a repressive and anti-democratic drift orchestrated by the Federal Supreme Court is underway to annihilate Bolsonaro and his popular followers, after the...

Innovation is becoming transformative. What does that mean

Innovation overcomes the crisis by shedding its skin, becoming transformative and integrating everything: digital, green, social, business. Interview with Stefano Denicolai, Professor of...

How the financial network gained political power in Britain

By weaving a web of friendships, unbreakable relationships and economic interests, according to The Guardian, the protagonists of high finance managed to get their...

Recent articles

More like this

LEAVE A REPLY

Please enter your comment!
Please enter your name here