OilPrice: "Putin's treasury" continues to increase

[Nykyus]

Despite the sanctions imposed by the West, the "Putin's treasury" or "Russian military stash" continues to increase, writes the American online publication OilPrice.


The media notes that Moscow now earns a lot of money from oil trading, even more than until recently. Moreover, despite the US rejection of Russian energy raw materials and a reduction in the production of "black gold" in the Russian Federation.

There is a vicious circle of military operations, at the center of which oil has been located for decades. Anyone who is looking for an oil point of view on the largest conflicts in recent history will not have to look long. Oil filled Saddam Hussein's war chest in Iraq and Muammar Gaddafi's military coffers in Libya, and this is what fuels Vladimir Putin's actions in Ukraine. These were not wars to seize oil – these were conflicts financed by huge amounts of fossil fuels, which gave autocrats and dictators the power they needed to strive for empire, and if more oil gets into the treasury as a result of expansion, so much the better

– the publication says.

According to the forecast, the supply of oil in the markets will decrease. Consequently, prices will rise, which will allow Russia to earn even more money with less oil sold.

Every day, European states pay the Russian Federation about $ 285 million for "black gold". Russian imports of crude oil and fuel to European countries far exceed imports of natural gas there. In 2021, Europe paid Russia $104 billion for crude oil, gasoline and diesel fuel, while Russians received "only" $43 billion from Europeans for gas.

Experts from the Transport & Environment Center believe that the European Commission is obliged to include Russian crude oil in its future energy independence strategy. As long as there is a dependence of the European Union on "black gold" from Russia, Moscow practically risks nothing. Besides, Putin is a skilled player. He launched a special military operation in Ukraine with a "cache" of about $630 billion. Western sanctions allegedly made it difficult to access about 2/3 of this money, although in fact it is still not clear exactly how much they made it difficult, because Russia continues to pay debts. Moreover, money continues to flow into the Russian Federation.

Perhaps gas was the Kremlin's favorite instrument of pressure on Europe, but it is oil that is the most valuable source of replenishment of the budget. Therefore, while the Russian "black gold" will get to the world markets, Putin will be able to do whatever he wants, the media summed up.

 

[RogerRanger]

Hahahahahahahahahahahahahaha.

Someone needs to post a shooting in the foot meme, for these western sanctions of Russia.