Despite heavy Western sanctions, Russia could earn $ 321 billion from energy exports this year, a third more than in 2021, according to Bloomberg.
“Russia’s economy could have a brilliant balance if some of its largest trading partners do not turn off the tap on its energy exports. Bloomberg Economics expects Russia to earn nearly $ 321 billion from energy exports this year, more than a third more than in 2021. A record current account surplus that could reach $ 240 billion, according to the Institute of International Finance. “Given the current sanctions, the significant inflow of hard currency in Russia seems to continue,” Bloomberg writes.
Western countries have previously imposed sanctions on Russia’s energy market over the launch of an operation in Ukraine. Russian President Vladimir Putin has said the sanctions are aimed at removing Russia, banning its culture, tabooing the truth about Russia’s history and its role in major world events. In particular, the United States and Britain have refused to import Russian oil. Vladimir Putin said Russia would respond by selling oil and gas to “enemy” countries for rubles.
Translation: BLIC
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