Bloomberg: Putin May Collect $321 Billion Windfall If Oil and Gas Keep Flowing
(Bloomberg) -- Russia’s economy has staggered through the first full month of the war with Ukraine but it may yet emerge with a sparkling balance sheet if some of its biggest trade partners don’t turn off the tap on its exports of energy.
For all the hardships visited on consumers at home and the financial chokehold put on the government from abroad, Bloomberg Economics expects Russia will earn nearly $321 billion from energy exports this year, an increase of more than a third from 2021.
It’s also on track for a record current-account surplus that the Institute of International Finance says may reach as high as $240 billion.
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Update: Putin Will Collect a $321 Billion Windfall Partially Thanks to Sanctions (Mish Talks)
WNU Editor: The EU has a choice. Ban Russian oil and natural gas imports and go into a deep recession, or not.
In the current environment where the EU is doubling down on sanctions every week, I will not be surprised if in the coming weeks the EU will impose sanctions on these energy products in the hope that it will cripple the Russian economy and government before winter starts later this year, resulting in a change in Kremlin policy. IMHO this will not succeed.
5 comments:
"the EU will impose sanctions on these energy products in the hope that it will cripple the Russian economy and government before winter starts later this year, resulting in a change in Kremlin policy."
Doesn't just take all?
They spend years and year climate modeling, but how much did they spend modeling the economy, sanctions or economic warfare?
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Who is advising President Placeholder?
WNU your comment here reads like its straight from the Kremlins lips...don't get me wrong. One day the only machines that need gas will be Russian tanks.
A fairly conservative economic reading of ongoing trends sounds like a Kremlin press conference to you. That speaks more about you than it does of Russia.
I no longer have any respect for wnu but he has a point in my limited view on the matter. Forcing ruble trade between india and China for resources is a big deal. Sanctions may shoot the sender in the foot. Congratulations obungler and his pedo vice are straight up plunging us all into war. Face flaps hillary must be in orgy
No matter what, Putin's Russia will be a scorned nation among the Western nations and is losing its brightest young people. They are losing what economic gains they had made and are slipping daily now back to some 30 years ago. Over time, those nations that depended upon Russia for energy will find alternative sources. China will view Russia as a weak ally.
the main lesson learned? nations without nukes are potential targets, so get some asap
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