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Russia Oil Revenue Up 50% This Year Despite Boycott, IEA Says

  • Moscow earns about $20 billion each month from oil sales
  • Supply losses may still triple as new embargoes take effect
Russian oil shipments have continued even as the EU edges towards an import ban.

Russian oil shipments have continued even as the EU edges towards an import ban.

Source: Bloomberg

Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency said.

Moscow earned roughly $20 billion each month in 2022 from combined sales of crude and products amounting to about 8 million barrels a day, the Paris-based IEA said in its monthly market report.