Russia earned about 6,500 million euros from gas and oil exports in February, 46.3% less than in the same month last year, according to data from the Russian Ministry of Finance.
However, results for the second month of the year improved 22.5% from January, when Russia’s oil and gas sector began to feel the effects of Western sanctions following the invasion of Ukraine.
According to data from the Ministry of Finance, the oil sector contributed 532,100 million rubles (about 6,600 million euros) to the export and extraction tax budget in February, an increase of 21.5% over the window.
In the same plan, the Russian gas industry provided the treasury with 160,000 million rubles (about 1,900 million euros), an increase of 28.1% compared to January.
In the first two months of the year, Russia earned 946,770 million rubles (about 11,800 million euros) from the export of these hydrocarbons, while in the same period of 2022 it received 1,760 billion rubles (about 22,000 million euros).
The Russian Ministry of Finance acknowledged at the beginning of the month that the average price of Russian Ural-branded crude oil fell to $49.52 (about $46.61) per barrel in January and February this year compared to the same months of 2022, before the start of the Russian campaign in Ukraine, when the price was $ 88.89 (about 83.67 euros) per barrel.
On 5 December, the European Union (EU) embargo on oil coming from Russia by sea came into effect, a measure that coincided with the imposition by the EU, G7 and Australia of a maximum price of 60 dollars (approximately 56.48 euros). per barrel of Russian crude oil.
In addition, on February 5, the EU, the G7 and Australia also started applying maximum prices for Russian oil products, such as USD 100 (approximately EUR 94.13) per barrel for diesel and USD 40 (approximately EUR 37.65) per barrel for other derivatives.
Russia invaded Ukraine on February 24, 2022, plunging Europe into what is considered the worst security crisis since World War II (1939-1945).
The number of civilian and military casualties is unknown, but several sources, including the UN, admit it will be high.
Source: DN
