The sanctions policy against Russia has certainly left its mark, at least as can be seen from the general mood, i.e. recurring voices. However, Russia has already been able to increase its export revenue again. Due to the high price of oil, as it is now is called.
The amount of oil sold falls – revenues rise
The preliminary, simple equation: Due to the increased oil price, Russia can ultimately earn more even if the amount of oil exported falls. The problem is that if sanctions are imposed, the tradable or traded oil quantities will fall on their own. So this can drive up the price (although Russia is not the No. 1 oil trader).
In the worse case scenario, Russia itself contributes to earning more. Calculated in monetary terms, the situation in reality is clear. In September the country had 13% more than in August, according to the Center for Research on Energy and Clean Air (CREA).
On the other hand, in the long run the sanctions will – probably – be successful. Oil sales would be “significantly” below the sales that Russia achieved before the country invaded Ukraine. Compared to the peak, Russia lost almost half.
The amount of oil exported has actually fallen in comparison – even though sales were so high. The export of 935,000 tons is lower than “ever since the beginning of the war” in Ukraine. Russia has probably already recognized the potential. On the one hand, it has made China its largest customer, and on the other hand, it has invested “massively in expanding its own tanker fleet”.
China is considered the largest buyer of Russian oil.