Thread by @virtaava

Russia has come forward and acknowledged the existence of significant challenges concerning its oil and gas revenues, which have reached their lowest point in several years.

During a public video conference with President Vladimir Putin, Finance Minister Anton Siluanov openly acknowledged these issues. 1/6

He attributed the decline of energy revenues by over 50 percent in the first quarter of this year to "all these discounts," effectively highlighting the impact of various factors affecting the revenue stream. 2/6

In-depth analysis conducted by researchers at the Kyiv School of Economics has shed further light on the situation. 3/6

Their study, based on an examination of oil sales records, estimates that approximately 75 percent of the revenue decline can be attributed to western sanctions rather than market prices. 4/6

This admission from Russia and the identification of the causes behind the fall in energy revenues reflect the significant economic challenges the country is currently facing. 5/6

The combination of discounts and western sanctions has evidently taken a toll on Russia's financial standing, impacting its oil and gas sector in particular.
ft.com/content/c99fc8…
#sanctions #oil #RussiaIsATerroristState 6/6