The payback is approaching: As Russia loses oil dollars through sanctions and war

The income of the gas aggressor from gas that has risen in Europe this summer could not fully compensate for the fall in income from oil. Russia's revenues from oil and gas in August 2022 have become the lowest in the last 14 months. It happened against the backdrop of Western sanctions and reducing gas supply to Europe, Bloomberg reports.

After the refusal of some European countries from Russian energy, because of the war in Ukraine, Moscow had to sell its black gold with a discount of Asia countries and reduce the export of blue fuel to Europe. Therefore, in August, the Kremlin earned $ 11. 1 billion (671. 9 billion rubles) in the supply of oil and gas. This is the lowest level since June 2021, according to the Ministry of Finance of Russia. Compared to July 2022, revenues decreased by 13%.

In August, the Russian Federation from energy resources was 3. 4% less than in August 2021, although the cost of Urals oil increased by almost 10%. At the same time, the revenues of the aggressor country from gas that went up in Europe this summer could not fully compensate for the fall in income from oil. For a long period of low black gold, the USSR has led to the decline and collapse of the USSR.

Russia's economy as a successor of the Soviet Empire at a new stage can remain without a significant proportion of "oil dollar" with all the devastating consequences, according to the article "Coercion to defeat. How long Russia will be able to wage war without oil dollar. " According to the founder of the League Antitrast Agia Zagrebelskaya, if the mechanism of restriction of oil prices is operational, it can be safely compared with Himars on the sanction front.

"Theoretically, limiting the price of Russian oil can have a great impact on the Russian Federation, since 38% of the Russian state budget revenues should fall into the oil and gas sector this year," Dmitry Gorununov says. However, the exact figures of the aggressor losses, according to the expert, depend on the ability to impose such a restriction in principle, as well as specific parameters of such arrangements.

It should be noted that from the beginning of the invasion of Ukraine has already suffered significantly from the beginning of the invasion of Ukraine. However, it is the oil and gas sector that helps the aggressor to stay afloat. At the same time, the International Monetary Fund (IMF) will allocate $ 1. 4 billion to support the economy of Ukraine in war. Kyiv will be able to get a tranche in less than a month.