GENERICO.ruEconomicsBloomberg: After sanctions on oil, Russia earns even more from it

Bloomberg: After sanctions on oil, Russia earns even more from it

Bloomberg: Russia makes even more money from oil after oil sanctions

October sales oil brought Russia $11.3 billion, Bloomberg writes, citing data from the Russian Ministry of Finance.

This amount, called by the agency a “hole in oil sanctions” against Russia, amounted to 31% of total Russian budget revenues for the month, being the most high since May 2022.

In the first nine months of 2023, the Russian and “shadow fleet” transported more than 70% of oil cargo from the Russian Federation, which, according to Bloomberg, helped Moscow maintain control over exports and gradually increase prices.

Official Indian customs data show that the average price for Russian oil this year was $72 per barrel when it entered the country, $12 above the Russian oil price cap.

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