Russia rakes in more oil revenue than ever – WSJ ...News

New buyers and traders, as well as overriding demand for crude, help Moscow shrug off sanctions Mounting oil demand from some of the world’s biggest economies has helped Russia to export almost as much crude as it did before the conflict in Ukraine and subsequent Western sanctions, the Wall Street Journal reported on Monday. On top of this, rising global crude prices, which have currently settled at around $100 a barrel, have sent Russia’s oil revenues skyrocketing. “Russia is swimming in cash,” Elina Ribakova, the deputy chief economist at the Institute of International Finance, told the journal, adding that the

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