Post
Topic
Board Economics
Re: Who will Replace Russian Gas Supplies to Europe?
by
Pomogator
on 01/07/2022, 13:19:16 UTC
^^^ According to the International Energy Agency, Russia earnt more than $20 billion per month so far in 2022 from their fossil fuel exports. Here is the link:

https://www.businessinsider.in/stock-market/news/russia-is-earning-20-billion-per-month-in-oil-sales-as-higher-crude-prices-lift-export-revenue-50-says-iea/articleshow/91525171.cms

Now do you want to say that the IEA is a proxy of Russia? I am not sure whether that will work. On top of that, some of the experts have suggested that a few shipments to China and India have occurred under the radar and these are not tracked by the IEA. Anyway, from what I could see business goes on as usual in Russia. Back in February, Brandon and his cronies were predicting a complete economic meltdown in two weeks time.
This situation has allowed Russia to redirect the course of its fuel trade towards India and China. Of course, Russia sells this oil at a big discount. Gas sales to Europe continue, and soaring energy prices equalize this difference, perhaps even increase Russia's profits.