{"id":201563,"date":"2022-05-26T12:55:12","date_gmt":"2022-05-26T10:55:12","guid":{"rendered":"https:\/\/climatescience.press\/?p=201563"},"modified":"2022-05-26T12:55:13","modified_gmt":"2022-05-26T10:55:13","slug":"how-sanctions-have-increased-russias-oil-and-gas-revenue","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=201563","title":{"rendered":"How Sanctions Have Increased Russia\u2019s Oil and Gas Revenue"},"content":{"rendered":"\n

By\u00a0Robert Rapier<\/a>\u00a0– May 25, 2022<\/p>\n\n\n\n

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As I warned in my February article Russia Is A Major Supplier Of Oil To The U.S.<\/a>, Russia could potentially benefit from the sanctions on its oil exports. Although Russia hadn\u2019t yet invaded Ukraine when I wrote that article, I warned that if it did:<\/p>\n\n\n\n

\u201cRussian sanctions would be put in place, potentially reducing the available oil supply in a tight market. If Russia could still sell all the oil it could produce to countries that refuse to abide by the sanctions, it might do well financially with an oil price spike.\u201d<\/em><\/p>\n\n\n\n

We now have data in hand to confirm that the subsequent sanctions on Russia\u2019s oil are in fact boosting Russia\u2019s oil revenues:<\/p>\n\n\n\n

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New data! #Russia<\/a>'s oil and gas revenues hit another record high in April. 1.8 trillion rubles in a single month, after 1.2 trillion in March. After only 4 months, Russia's federal #budget<\/a> has now already received 50% of the planned oil and gas revenue for 2022 (9.5 trillion). pic.twitter.com\/DKUGClchWG<\/a><\/p>— Janis Kluge (@jakluge) May 6, 2022<\/a><\/blockquote>