Russian Figures Suggest Western Oil Sanctions Not Working
- Russian budget data shows revenues from oil are surging
- Moscow has amassed a huge shadow fleet to deliver its cargoes
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The west’s sanctions on Russian oil exports are failing to deprive the Kremlin of revenue to fund its war in Ukraine, meaning the measures are not succeeding in one of their principal objectives.
Whether in dollars or rubles, net or gross, Russian Finance Ministry data show that the money flooding into government coffers has been grinding higher for months now.