Posted 12/7/2023, 9:05:44 AM
Russia Rakes in $11 Billion From Oil Exports in 2022 Despite Western Sanctions
- Russian oil exports generated $11 billion in 2022 despite G7 price cap and EU import ban
- Russia rerouted oil exports to China and India, exporting 3.5 million barrels per day in 2023
- Oil revenues almost doubled between April-October 2022, totaling $11.3 billion in October
- 5 of top 8 buyers of Russian oil in 2023 were unknown entities
- U.S. sanctioned 8 oil tankers for price cap violations, inquired about 100 ships for potential breaches