Russia doubles fossil fuel revenues since invasion of Ukraine began

The Guardian ^ | 4/27/22 | Fiona Harvey

[JonPreston]

Russia has nearly doubled its revenues from selling fossil fuels to the EU during the two months of war in Ukraine, benefiting from soaring prices even as volumes have been reduced.

Russia has received about €62bn from exports of oil, gas and coal in the two months since the invasion began, according to an analysis of shipping movements and cargos by the Centre for Research on Energy and Clean Air.

For the EU, imports were about €44bn for the past two months, compared with about €140bn for the whole of last year, or roughly €12bn a month.

The findings demonstrate how Russia has continued to benefit from its stranglehold over Europe’s energy supply, even while governments have frantically sought to prevent Vladimir Putin using oil and gas as an economic weapon.

[JonPreston]

[PGR88]

Everything the progressives and neocons in Washington DC do has the exact opposite of their stated intentions.

[JonPreston]

Exactly, everything Biden and the Neocons touch turns to siht.

[EEGator]

[Vaduz]

It is the democrats intentions it’s why things are like they are.
Marxism on the march

[joe fonebone]

There is no such a thing as a fossil fuel

[BiglyCommentary]

Criminals are always excited about their short term illicit gains but in the end, it all turns bad. With the Western oil majors all pulling out of Russia, Russia will go the way of Venezuela, lots of reserves but their production all screwed over.

[JonPreston]

Another dunce.

[SmokingJoe]

And now the EU clowns have to pay in Rubles or no oil/gas for them, as Bulgaria/Poland are finding out.

[bantam]

He sure turned out to be a POS!

[JonPreston]

It’s becoming the biggest FU to a sitting American president in our history. And people didn’t see this coming?

[Eagles6]

I voted for Alan Keyes in the primary.

Only voted for Jorge, in the general, because the alternatives were worse.

[bert]

Biden is irrelevant and the world knows it

[tlozo]

Louis J Wilson, senior adviser at campaigning group Global Witness, said Russia’s willingness to violate its own contracts meant businesses now had no excuse for continuing to trade with Russia. “Fossil fuel majors and commodity traders who have continued trading in Russian fossil fuels, claiming that they are forced to do so by their long-term contracts, should take note of the value of the agreements they hold with Russian entities. Russia is willing to tear up these contracts to support their own war effort, yet European companies supposedly feel compelled to continue financing war crimes out of respect for them,” he said.

[econjack]

Biden killed the XL Keystone pipeline and severely restricted oil leases on federal lands on offshore, and has done nothing to expedite the permitting process. Gas prices shot up 48% before Russia invaded Ukraine. Today, a friend of mine in the CA high desert said premium was $7/gal. But, Joe's still not satisfied, so he placed even more strict limitations on drilling in the National Petroleum Reserve, not the Arctic National Wildlife Reserve, on the 26th. How can you still fog a mirror and be that stupid?

[JonPreston]

So?

[Gen.Blather]

This is a pretty good analysis of what’s going on regarding energy.

https://www.youtube.com/watch?v=3alwWMT3l2Y

[JonPreston]

And these people feel no shame.

[canuck_conservative]

Yeah Russia has lots’o’money now. So what?

What good is all that money if you have nothing to buy with it?

Because Russia is currently under sanctions by most countries that supply useful stuff.

Look inside any modern electronics - you’ll see a whole bunch of parts that come from Taiwan, Japan, Korea, etc.

Taiwan Semi-Conductor Manufacturing Co. makes 95% of the world’s electronic chips. Russia has ZERO chip-making factories of their own, and is now cut off from TSCM and other Asian countries.

So Russia can use all that money to make domestic products - more lumbering tanks, katyuisha batteries, dumb bombs, etc., but can’t make anything high-tech

Ukraine is under no such embargo, and continues to be freely supplied, so they can keep making drones and other high-tech weapons that are proving decisive

money by itself is useless in a war

[EEGator]

Do you think China would buy things, via Russian money, that will ultimately end up in Russia?
Do you trust all countries to abide by the sanctions imposed?
What about shell corporations with their country of origin not being in Russia?