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Russia's Oil Export Revenues Could Undermine Western Sanctions
For the majority of last year, Russia was actually benefiting quite a lot from very high oil prices. And those revenues were just starting to come under pressure until it just got this boost from OPEC. For every $1 increase in the price of Brent crude, that boosts Russian oil export revenues by about $2.7 billion a year. So if we get a $10 jump in the oil price, that's an extra $27 billion for the Russian government. But yeah, no, it's a real move. I think it does and do quite a lot of the good work that Western nations have been doing to try and constrain Russia economically. We all know where that money is going to
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