Russia’s oil revenue hits highest level since March 2022 – media

Rising prices and the easing of sanctions against Russia have led to an increase in the Kremlin’s revenues from oil sales.

This was reported by Bloomberg.

Russian revenues from raw material exports increased for the second time in a week and reached their highest level since March 2022.

The Kremlin is taking advantage of the easing of US restrictions on oil exports, with sales to India in particular increasing recently.

Over the past three weeks, Russian exports have almost doubled. In January, Russians received $135 million per day, but now the average daily income is about $270 million.

Despite the fact that the Kremlin leader admitted that the increase in revenues is temporary, the Russian budget is receiving a significant boost.

“According to vessel tracking data and reports from port agents, 37 tankers loaded 28.5 million barrels of Russian crude oil in the week to March 22. The volume increased from 27.79 million barrels on the same number of vessels the previous week,” Bloomberg explained.

It was previously reported that the US eased sanctions for 30 days and allowed the purchase of Russian oil and petroleum products , which are already transported by sea.

By the way, Chinese state-owned oil companies are preparing to resume purchases of Russian oil after a four-month pause, taking advantage of the temporary easing of US sanctions.

As a reminder, global oil prices have exceeded $100 per barrel amid the worsening situation in the Middle East. This happened for the first time since 2022, and investors are taking into account the risks of prolonged disruptions in energy supplies.