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Russia admits ‘problems' as energy revenues fall
[Financial Times UK] Russia has admitted "problems" with oil and gas revenues that have fallen to their lowest levels in years, underscoring the impact of western restrictions on Moscow’s primary engine for funding its war in Ukraine.Finance minister Anton Siluanov acknowledged issues during a public video conference with President Vladimir Putin on Wednesday, blaming "all these discounts" in explaining why energy revenues fell by more than 50 per cent in the first quarter of this year. Yet, Moscow energy revenues for the first four months of 2023 plummeted to Rbs2.2tn ($27.3bn), levels not seen since the start of the Covid pandemic, according to data from the finance ministry. When Trump admin energy policies lowered the price of a barrel of oil into the $30s. Posted by: Enver Slager8035 2023-05-18 |
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