Russia’s revenues from oil and gas in 2022 could reach a record $321 billion.
If major buyers of Russian energy resources do not impose an embargo on their imports, Moscow could earn nearly $321 billion, reaching a record surplus.
Despite the pressure on Russian finances from abroad, Russia will earn almost $321 billion from energy exports this year, more than a third more than in 2021. Russia can also expect a record current account surplus, which, according to the Institute of International Finance (IIF), could reach $240bn.
The expected trade and balance of payments figures will be “brilliant”. According to the IIF group’s report, current restrictions have failed to stem the inflow of “hard currency” into Russia.
Due to censorship and blocking of all media and alternative views, stay tuned to our Telegram channel