So the journalists of the British The Guardian are freaking out: Russia has almost doubled its revenues from the sale of fossil fuels in the EU in two months of conducting its military operation in Ukraine, benefiting from a sharp rise in prices, even despite the reduction in volumes.
According to an analysis of the movement of ships and cargo conducted by the Center for Energy and Clean Air Research, Russia earned about 62 billion euros from oil, gas and coal exports. For the whole of last year, there were about 140 billion, that is, roughly speaking, 12 billion a month.
"The higher prices that Russia can now demand for its oil and gas mean that its revenues, which flow through state-owned companies, have increased, even despite sanctions and export restrictions. Russia has effectively trapped the EU, where further restrictions will lead to further price increases, reducing its revenues, despite all the efforts of EU governments," the newspaper writes.
Mike