Russia’s oil export revenues increased after US sanctions were lifted, — Vlasyuk

Over the past week, the Kremlin’s revenues from oil and petroleum products exports increased to $4.9 billion.

This is approximately $2.5 billion more than the average weekly level in February, said Vladyslav Vlasyuk, the Ukrainian presidential commissioner for sanctions policy.

In particular, it is known that for the first time since the start of the full-scale war, the Russian Urals grade is trading at a premium to Brent in India.

“This is how Hormuz squeezes the market and plays in Moscow’s favor. They write about about $120/barrel, but these are DAP prices, real contracts are mainly concluded according to the CIF formula, so the actual price of supplies is closer to $85–90/barrel. It is still very profitable for the Russian Federation, and a month ago it was about $40,” the commissioner noted.

The growth in Russia’s revenues from oil and petroleum products exports is associated with the consequences of the temporary lifting of US sanctions. There

“For comparison, in February, monthly revenues amounted to $9.51 billion, or about $2.4 billion per week. However, this is all preliminary and approximate data,” Vlasyuk noted.