Russia's oil sales revenues have sharply increased, reaching the level of March 2022. This is reported by Bloomberg, citing analyst data.
The increase is linked to the easing of U.S. sanctions and rising global energy prices amid the crisis in the Middle East. According to estimates, the price of exported oil has significantly increased over the past three weeks: while the average daily revenue at the beginning of the year was around $135 million, by March it had reached approximately $270 million.
Despite acknowledging the temporary nature of the windfall profits, they are impacting the funding of military expenditures. Data from vessel monitoring and port agents indicate an increase in maritime crude oil exports in the week leading up to March 22: 37 vessels exported 28.5 million barrels, compared to 27.79 million the previous week.
At the same time, Bloomberg notes that the stability of supplies remains in question due to weather conditions, technical work at terminals, and military attacks. In particular, Ukraine's strike on the port of Primorsk may further reduce shipment volumes.
Additionally, following the U.S. decision, oil supplies to India have resumed — to a level of about 1.14 million barrels per day.
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