Russian revenues are increasing and the ruble is depreciated: whether the Russian Federation is enriched despite the sanction

The Kremlin reports that Russia is enriched against the background of war in Ukraine and despite anti -Russian sanctions. However, it is silent about the devaluation of the ruble, which since the beginning of the year has depreciated with a 4. 5%dollar. Experts told focus about Moscow's manipulation, but at the same time noted that it is too early to rejoice. The revenues of the budget of the Russian Federation are increasing despite the anti -Russian sanctions of Western countries.

At least it reports this by the Ministry of Finance of the aggressor country. It is reported that in the first quarter of 2024 Russia's income amounted to 8. 7 trillion rubles, which is almost $ 94 billion. The focus understood whether Moscow really earns so well against restrictions and war in Ukraine. According to the Russian Ministry of Finance, the expenses of the Russian budget for the first quarter of 2024 amounted to 9. 3 trillion rubles. And the deficit decreased from 2.

086 trillion rubles to 607 billion rubles. In January-March 2024, revenues from oil and gas sales were 79%higher than in the same period last year. Other income increased by 43. 2%. In the commentary of Focus, the director of the Eavex Capital Investment Company's IDPAC Department explained that the Russian government really reports on the growth of oil and gas revenues of their budget due to higher oil prices on the world market.

However, some of this growth also refers to a factor such as the devaluation of the ruble itself, which since the beginning of the year has depreciated with a 4. 5%dollar. Published data from the Russian Ministry of Finance still reflect the current state of the Finance of the Russian Federation, which is influenced by a number of objective factors, including the situation in the global oil market and the state of the ruble. "In fact, revenues have grown very well.

First, the revenues in rubles have increased, which is very important. And this happened against the background of a ruble against the dollar and an increase in oil prices. Brent has increased from $ 77 to $ 87 to the first quarter since the beginning of the year. The cost of exports of Russian oil has also increased. Dmitry Churin, in particular, notes that Russia expects that its oil will cost an average of $ 71 per barrel 2024.

And the Russian budget deficit for 2024 was laid at $ 17 billion, but in relatively 1% of Russia's GDP. The expert also proposes to compare this data with the Ukrainian budget. "Russia's invasion of Ukraine has led to a shortage of the Ukrainian budget at approximately $ 40 billion, which in relatively expressed is an equivalent of 20% of our GDP. We hope that sanctions against Russia will continue to be intensified.

Recently, there was a message that Russian aluminum , copper and nickel disconnected from the Western trading platforms. Oil and gas revenues of the budget. Andriy Shevchyshyn agrees with Dmitry Churin. According to him, the impact of sanctions will be more noticeable by increasing the control of the financial system and the risk of secondary sanctions in banks and firms that allow the Russian Federation to bypass international restrictions. However, this is not a quick process.

"It seems that the risk of secondary sanctions is more effective with respect to operations than direct sanctions," Shevchyshyn adds. Meanwhile, the Russian economy is financed by the war against Ukraine and will continue to have this opportunity. Even despite trying to impose sanctions. It should be noted that at the end of 2022 a price ceiling for Russian oil was introduced at the level of $ 60 per barrel. However, the price of Russian oil has long exceeded this limit. According to investing.

com, the barrel of the Russian oil brand Urals costs almost $ 82. 70 as of April 17. Instead, the Brent Oil Brent, which is traded on international oil exchanges, is only a few more expensive $ 89 per barrel. Economist, entrepreneur, KMB Finance Lecturer Alexey Gerashchenko provided specific data from Russia's oil and gas income in the last four years. As we can see, in 2023, the income had significantly fallen relative to 2022, but they were much higher than the pre -war 2020.

In the first quarter of 2024, due to the high prices for oil, which is due, especially in the Middle East, Russia also has a high level of oil and gas income. The key question in this context is the level of oil prices, and it seems that there are no prerequisites for their collapse, "Gerashchenko explains.

According to him, in the medium term, the Russian Federation's economy is stable, with high probability the budget this year will be fulfilled that It will mean the sufficiency of funding to finance the war. Instead, in the medium term (2-3 years), it is not necessary to hope for collapse and collapse, "-said Alexei Gerashchenko. Indeed, the aggressor country continues to earn, especially in oil, because the price of the Russian brand of Urals is far for $ 60 For the barrel.

In his words, this is the restriction of OPEC oil, which was calculated on a crisis in China. According to him, the 14th package of sanctions against Russia will contain a wide list of restrictive measures with a "strong emphasis on the fight against bypass". According to him, the EU is also looking for a way to stop bypassing sanctions through Western subsidiaries operating in countries outside Europe.

"From the EU's point of view, the EU parent companies that have influence the business operations of their foreign subsidiaries may be responsible for the operations carried out by these subsidiaries," Dombrovskis said. He also stressed that the EU would continue to put pressure on Russia and those who support it. "We will continue to pursue Putin's friends. And we will continue to persecute those who help Russia to circumvent or replenish its military arsenal," he said.