Washington-Sana
A new study conducted by the Energy Research Center in the Finnish capital Helsinki revealed that Russian oil revenues rose despite Western sanctions imposed against Moscow under the pretext of the crisis in Ukraine.
The study, published by the New York Times, showed that Russia's fuel revenues rose to record levels in the first 100 days of the Russian special operation to protect Donbass, driven by unexpected gains from oil sales amid rising prices.
According to the study, Russia achieved revenues from oil, gas and coal exports with an estimated 93 billion euros in the mentioned period, equivalent to about 97 billion dollars from oil and most of the rest from natural gas.
"The current rate of revenue is unprecedented because prices are unprecedented and the volume of exports is close to its highest recorded levels," said analyst Lauri Myleverta, who supervised the study.
Although Russia's fossil fuel exports have decreased somewhat in volume due to Western sanctions against Moscow, the high prices have canceled the effects of this decline.
The study found that Russian export prices for fossil fuels were on average about 60 percent higher than last year, even taking into account the fact that Russian oil is about 30 percent below international market prices.
Despite the attempts of European countries to stop their dependence on Russian energy, the new study showed that the income in Gazprom, the Russian gas giant, remained twice as high as it was in the previous year, thanks to the rise in gas prices.
Russia's permanent representative to the European Union, Vladimir Chizhov, stressed yesterday that the United States cannot limit Russian oil revenues, while the American Wall Street Journal revealed that European factories that had long depended on low-cost Russian energy closed their doors due to high global energy prices.
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