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Rising oil prices did benefit Russia immensely, though. IIRC their budget revenue even increased during the first half of 22. They shouldn't be doing that well
by wwtrv 4y ago
Rising oil prices did benefit Russia immensely, though. IIRC their budget revenue even increased during the first half of 22. They shouldn't be doing that well now anymore (with falling prices and increasing restrictions). Of course it depends if EU will resume buying Russian gas at a large scale when/if current storage runs out.
- orwin 4y agoRising oil price have an effect on the world productive system, that's why we have decades of evidence oil having very low elasticity of demand, but also of supply. Rising oil price might have benefited Russia's budget, but not its productive system.