News: May 12, 2022. Russian Oil Revenues Increase in the Midst of Sanctions

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Despite the sanctions imposed by the Western countries, Russia has seen its oil export revenues increase by 50% compared to 2021. The reason for this are the following:

  • Asia is buying more oil from Russia
  • The prices of oil are higher
  • European countries have not agreed yet on a ban of Russian oil.

It is likely that European countries will end up purchasing indirectly Russian energy (oil and natural gas) because at this point, their economies are unable to sustain themselves without Russian energy.

For further information, read the following article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.


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