Russia oil cap works as planned with flows up, revenue down - BNN Bloomberg

Daily Russian oil exports averaged 8.1 million barrels a day last month, the highest since April 2020, “as deep price discounts attract traders willing to risk handling the barrels,” the IEA said in its monthly market report on Friday. Export revenue slightly rebounded from February lows, reaching US$12.7 billion, but were still 43 per cent down from a year earlier, the agency said.

The Group of Seven industrialized countries and their European Union allies have imposed ceilings on the price of Russian crude oil and refined products, which are designed to ensure the country's energy keeps flowing onto world markets while curbing revenue. The price restrictions came on top of EU bans on imports of nearly all seaborne Russian crude and petroleum products, depriving the Kremlin of what has historically been its largest energy market.

The IEA estimates are for the so-called free-on-board, or FOB, price, which excludes shipping and insurance costs. Russia has welcomed the price rises this month, which Deputy Finance Minister Vladimir Kolychev said may bring additional revenues to the state coffers.

The sanctions work, but they don’t. It’s exactly what you’ve just read. The fact that sanctions work doesn’t move Russian politics an inch closer to change: Putin will stay where he is, and civil upheaval will not materialize; by now, you have to know why.

Come on , everybody knows what’s going on. Stop lying 🤥

International does not account for all oil sold in Rubles, Juan and Ruppee and Brazil real.

Meanwhile Russia and China continue to trade their oil on the Chinese Yuan for all these records that tell us of Russia herding are based on the US dollar to which they no longer use

Sanctions eh? I miss serious journalism. (oil price over the last year 👇)

Still enough revenue to get rid of the corrupt, lying and murderous UkroReich regime. 😉

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