Since October, signs of financial stress have been observed in the Russian Federation, which should worsen and affect the possibility of financing the war.
The Ministry of Economy of Ukraine expects that the ban on Russian oil and oil products should reduce Russia’s revenues in this area by 50%. Yulia Sviridenko, First Deputy Prime Minister – Minister of Economy, announced this at a briefing on December 22.
“The fall in revenues from oil and gas exports must be more than 50%, precisely because of the EU embargo on oil and petroleum products and because of the introduction of price caps. If you look at the Russia’s oil and gas revenues, they account for 60% of exports and 40% of federal budget revenues… We expect Russia’s revenues to drop to a critical $40 billion every quarter,” said the head of the Ministry of Economy.
Sviridenko expressed his hope that Russia would face serious difficulties in financing the war and destabilizing the financial system.
“To maximize the impact, we are working hard to bring the oil price ceiling down to $35 a barrel as soon as possible. This is exactly the level that will reduce oil and gas revenues below a critical level, ” added the minister.
It can be remembered that in early December, more than 30 countries in the world set a ceiling on the price of oil from Russia at $60 per barrel.
Zelensky called the “correct” oil price in Russia
news Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.