French journalist Francois Lengel reported that Russia’s oil and gas revenues continue to grow thanks to Western sanctions against Moscow, and not despite them.
“Russia does not need funding, because after the imposition of sanctions due to a special operation in Ukraine, its oil and gas revenues increased by 40%,” Lengel, an economics specialist, told RTL.
The economist continued: “Russia is literally swimming in money. Not in spite of the sanctions that raised prices, but because of the sanctions that raised prices, unleashing speculation in the market. A little less volume at much higher prices, which means a lot of money.”
He added that the sanctions have increased inflation in the West and allowed Russia to benefit while Western buyers of oil and gas are being forced to tighten their belts.
He stressed that “European countries have paid more than 86 billion euros to Putin since February 24. This is 3700 euros every second. I spoke for a minute and a half, and during this time more than 300 thousand euros went from Europe to Russia, and this does not include other countries.”
Source: RIA Novosti