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Post by sevenofnine on Jan 11, 2023 12:24:43 GMT -5
HA HA!! Russia, the world's largest exporter of oil, is losing an estimated €160 million per day due to the combined impact of the European Union's far-reaching oil embargo and the G7's price cap, according to a new report. The economic losses could mount all the way up to €280 million per day after 5 February, the deadline the EU imposed on its 27 member states to phase out all seaborne imports of refined petroleum products, such as naphtha and gasoil. Russia now earns €640 million per day – down from €1,000 million per day in March – from the sale of all fossil fuels, which are believed to represent around 40% of its federal budget and act as a financial lifeline to bankroll the increasingly costly war in Ukraine. www.euronews.com/my-europe/2023/01/11/russia-is-losing-160-million-per-day-due-to-western-sanctions-on-oil-new-report-says
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