The policy of capping the price of Russian energy resources has not justified itself and the Russian Federation continues to collect oil and gas revenues by building hydrocarbon export supply chains. This was reported by CNBC.
This conclusion was made according to the Center for Research on Energy and Clean Air (CREA). The organization’s experts noted that members of the Price Capping Coalition were unable to follow price cap measures and periodically review price levels so that they remained below market levels.
This thesis was confirmed by CREA information that Moscow’s income from the sale of energy resources in March-April recovered from December last year, when the G7 countries introduced a price cap for Russia.
Meanwhile, at the official level, representatives of the West report the success of the measures taken against the Russian energy sector. Thus, after the Hiroshima summit, the G7 leaders issued a statement that the restriction of the prices of oil and petroleum products of the Russian Federation will continue to play its role, Russian budget revenues are decreasing and the reduction of the cost of these goods benefits the countries of the world.
At the same time, Western exporters are reporting an increase in exports to Asia from Russia of thermal coal and natural gas in 2023. Thus, purchases are increasing in India, China and South Korea. Japan also speaks of the impending expansion of deliveries from the Russian Federation.
Photos used: proverkin/pixabay.com
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