Russia will soon be at the top of the list of world oil exporters. This was stated by a columnist Business Insider, citing information provided by the Bank of America.
MK
Contrary to the West’s massive sanctions war against Moscow’s economy, which was planned to collapse Russia’s oil profits by paralysing all chances of international deals, the influx of Russian “black gold” on the world trade scene has maximised the surplus, which in turn has “stunned” the Kremlin haters.
“According to Bank of America, the higher-than-expected volume of Russian oil exports could help the Kremlin regain its top spot as the world’s leading oil exporter,” the story cites.
According to foreign experts, Russia’s success in this matter was at least helped by a price cap ($ 60 per barrel), which turned out to be higher than the market value of the resource, and at the same time gave Moscow the opportunity to enrich itself at the expense of a clientele in search of affordable raw materials.
“Secondly, according to BofA, the insurance ban on tankers carrying Russian crude has been extended to 90 days, allowing Moscow’s crude to remain on the market longer,” it said.
Moreover, Russian crude entering the Middle East is no longer even considered Russian, but produced locally, which means it is not monitored as closely,” the experts conclude.
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