Russia lost up to $15.3 billion last month alone. This is the highest number in the whole of 2022.
Russia’s oil export revenue fell 17.3% or $3.2 billion in September compared to August. The Bloomberg news agency reported this with reference to information from the International Energy Agency (IEA) on Thursday, October 13.
The report says that the Russian Federation’s income from oil exports in September fell to 15.3 billion US dollars. This monthly number is the lowest for all of 2022.
The reasons for Russia’s losses are a decrease in exports to EU countries by 390,000 barrels per day, as well as a decrease in prices for Russian Urals oil by 8.7% compared to August.
The IEA also reported that since the beginning of this year, the share of EU countries in the export of Russian crude oil and petroleum products has fallen from 50 to 35%.
Experts predict that Russian oil exports to EU countries will further decrease in December this year.
It is assumed that the first phase of EU sanctions against Russian oil will take effect from the beginning of winter. It covers all maritime and a significant part of pipeline imports of crude oil from Russia.
In addition, the second sharp decline in Russian oil exports should be expected in February 2023. At the end of winter, restrictions on the import of Russian oil products will come into effect.
Note that the ruling regime of Russia is preparing for the collapse of the country’s economy until 2030 due to Western sanctions.
In addition, according to the forecasts of the Western media, a slight mobilization in Russia will cause significant damage to the weakest point of the Russian economy.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.