Russia earned what is very likely a record 93 billion euros(about $97 million) in revenue from exports of oil, gas and coal in the first 100 days of the country’s invasion of Ukraine, according to data analyzed by the Center for Research on Energy and Clean Air, a research organization based in Helsinki.
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MOSCOW, June 22 (Reuters) - The rouble jumped on Wednesday to its strongest mark in seven years against the dollar and euro, supported by capital controls, a favourable upcoming tax period and Russia's trade surplus.
https://www.bloomberg.com/news/articles/2022-05-16/russia-current-account-surplus-surges-to-96-billion-on-energy#:~:text=Even%20with%20oil%20restrictions%2C%20Russia%27s,Economics%20forecast%20on%20May%206.
Russia’s current account surplus more than tripled in the first four months of the year to $95.8 billion, the central bank said, as prices surged for its oil and gas exports and imports plunged under the weight of sanctions imposed by the US and its allies over President Vladimir Putin’s invasion of Ukraine.
The surplus on the current account, the broadest measure of trade in goods and services, was the highest since at least 1994. The figure in first four months of last year was $27.5 billion.
“Russia earned what is very likely a record 93 billion euros(about $97 million) in revenue from exports of oil, gas and coal in the first 100 days of the country’s invasion of Ukraine”
I am NOT an expert, BUT... check out the rationale presented in this article:
“Russia is ready to sell crude oil at pretty much any price, but only to friendly countries, Energy Minister Nikolay Shulginov told Russian news agency Interfax.
Commenting on oil price forecasts, Shulginov said that these will need to be revised soon in light of the changes in the geopolitical and economic situation. He added that while a price range of between $80 and $150 per barrel of crude was possible, Russia was ready to sell its oil at any price range because its priority was to keep its oil industry going.
“A price range of $80 to $150 per barrel is generally possible,” Shulginov told Interfax, “but it is not our job to play guesswork with prices. Our job is to ensure the continue operation of the oil industry. We are ready to sell friendly countries oil and oil products at any price range.”
Separately, commenting on news about foreign companies’ exit from the Russian energy industry, Shulginov said this exit is, for now, hypothetical. These companies, he said, would first need to find a buyer for their Russian business.The minister’s statement suggests sanctions, although not directly targeting Russia’s oil industry, are beginning to bite. With lower sales due to the sanctions, Russia may soon need to start shutting down wells because it is running out of storage space, and new facilities are being built with haste.
The limited storage capacity has been a problem for a while but has only come into the spotlight now that Russian oil cargos are being shunned by Western buyers. According to the International Energy Agency, Western sanctions could reduce Russian exports by some 3 million barrels daily this quarter.
This would mean a 3-million-bpd shortfall in global supply with no immediate replacement. Also, if fuel exports are included, the shortfall could become even greater, as OPEC’s secretary-general warned the EU this week during talks in Vienna.”
https://oilprice.com/Energy/Crude-Oil/Russia-Ready-To-Sell-Oil-At-Any-Price.html