Russia’s oil revenues have surged following easing of US sanctions: it earned $12.8 billion in April, - New York Times
In April, Russia received at least $12.8 billion in oil taxes — twice as much as in March. The additional daily revenue exceeded $100 million.
According to Censor.NET, this is reported by The New York Times.
On 11 April, the US temporary sanctions exemption for Russian oil expired. The temporary exemption, introduced by the Donald Trump administration, allowed oil already at sea to be sold despite the sanctions.
This decision was intended to curb the sharp rise in global oil prices against the backdrop of the war in the Middle East, where prices exceeded $100 per barrel and had risen by more than 50% since the end of February.
However, as the publication notes, the expected effect did not materialise, as prices remained high, and a significant portion of Russian oil is already being supplied in circumvention of sanctions via the shadow fleet.
What led up to this?
- The US Department of the Treasury announced the removal of a number of individuals and entities from the sanctions list linked to Russia.
- The United States has issued a 30-day licence allowing countries to purchase Russian oil and petroleum products that are subject to sanctions and are currently on tankers at sea. Treasury Secretary Scott Bessent described this move as a measure to stabilise global energy markets, which have been unsettled by the war with Iran.
