How Sanctions Have Increased Russia’s Oil And Gas Revenue

As I warned in my February article Russia Is A Major Supplier Of Oil To The U.S., Russia could potentially benefit from the sanctions on its oil exports. Although Russia hadn’t yet invaded Ukraine when I wrote that article, I warned that if it did: “Russian sanctions would be put in place, potentially reducing the available oil supply in a tight market. If Russia could still sell all the oil it could produce to countries that refuse to abide by the sanctions, it might do well financially with an oil price spike.” We now have data…