4 ms·

They’re doing this while forcing russia to sell their crude at close to zero profit. I’d say that’s a positive.

by xenospn 3y ago

robertlagrant 3y ago
It might be a positive, but the headline is completely misleading. Which is what this comment thread is about.
atlantic 3y ago
Do you have any data on their actual profit margins, or are you speculating?
- lostlogin 3y ago
  Elsewhere here this link was given as proof that Russia was back where it started and hadn’t suffered loss of oil revenue. It shows export volumes pretty steady, but revenue loss of 43%. That would seem likely to have hit profits pretty hard. https://edition.cnn.com/2023/04/14/energy/russia-oil-exports-iea-report/index.html https://edition.cnn.com/2023/04/14/energy/russia-oil-exports...
  - Animatronio 3y ago
    Some would disagree with this take: https://www.cnbc.com/2023/05/24/ukraine-the-wests-oil-war-against-russia-is-losing-momentum.html https://www.cnbc.com/2023/05/24/ukraine-the-wests-oil-war-ag... Analysis published Wednesday by the Centre for Research on Energy and Clean Air, an independent Finnish think tank, found that Russia’s revenues from oil exports have recovered from levels reached in January and February. The findings show that Moscow has been able to successfully claw back earnings from fossil fuel exports in recent weeks despite the imposition of import bans from the European Union and a broader G7 oil price cap late last year. Energy analysts at CREA suggested the failure from the so-called Price Cap Coalition to revise price levels and enforce the policy had resulted in the measures “losing traction, integrity and credibility.”
    - Kbelicius 3y ago
      > Some would disagree with this take: No they would not. From the link you provided: > “Russia’s export revenue in April was down substantially year-on-year, mainly due to the impact of the EU import ban and lower oil prices. This means that Russia’s budget will likely stay in deficit, constraining military expenses,” said Lauri Myllyvirta, lead analyst at CREA and co-author of the report.

They’re doing this while forcing russia to sell their crude at close to zero profit. I’d say that’s a positive.

robertlagrant 3y ago

It might be a positive, but the headline is completely misleading. Which is what this comment thread is about.

atlantic 3y ago

Do you have any data on their actual profit margins, or are you speculating?

lostlogin 3y ago
Elsewhere here this link was given as proof that Russia was back where it started and hadn’t suffered loss of oil revenue. It shows export volumes pretty steady, but revenue loss of 43%. That would seem likely to have hit profits pretty hard. https://edition.cnn.com/2023/04/14/energy/russia-oil-exports-iea-report/index.html https://edition.cnn.com/2023/04/14/energy/russia-oil-exports...
- Animatronio 3y ago
  Some would disagree with this take: https://www.cnbc.com/2023/05/24/ukraine-the-wests-oil-war-against-russia-is-losing-momentum.html https://www.cnbc.com/2023/05/24/ukraine-the-wests-oil-war-ag... Analysis published Wednesday by the Centre for Research on Energy and Clean Air, an independent Finnish think tank, found that Russia’s revenues from oil exports have recovered from levels reached in January and February. The findings show that Moscow has been able to successfully claw back earnings from fossil fuel exports in recent weeks despite the imposition of import bans from the European Union and a broader G7 oil price cap late last year. Energy analysts at CREA suggested the failure from the so-called Price Cap Coalition to revise price levels and enforce the policy had resulted in the measures “losing traction, integrity and credibility.”
  - Kbelicius 3y ago
    > Some would disagree with this take: No they would not. From the link you provided: > “Russia’s export revenue in April was down substantially year-on-year, mainly due to the impact of the EU import ban and lower oil prices. This means that Russia’s budget will likely stay in deficit, constraining military expenses,” said Lauri Myllyvirta, lead analyst at CREA and co-author of the report.