“If major buyers do not impose a ban on Russian energy materials, Moscow will achieve record profits and earn more than 321 billion dollars,” Bloomberg Agency said in a report today.
The agency describes the projected figures for Russian trade and balance of payments as “dazzling”.
Despite the stifling pressure on Russia’s finances from abroad, Bloomberg Economics expects Moscow to earn nearly $321 billion this year from energy exports, more than a third compared to 2021.
She added that Russia could also expect a record surplus, which the International Institute of Public Finance (IIF) predicts could reach $240 billion.
According to the report of the “IIF” group, the current sanctions have not been able to stop the flow of “hard currency” to Russia.
Experts have also stated that the income from energy sales has allowed Moscow to mitigate the consequences of severely restrictive measures imposed by the West.