Posted by IDQWE001 > 2023-03-26 07:23 | Report Abuse

Russia’s budget revenues from oil and gas plunged in January by 46% compared to the same month last year due to the sanctions on Russian oil exports, which led to a slump in the price of Russia’s flagship crude grade.

Russian budget revenues from energy sales – including taxes and customs revenues – plummeted last month to the lowest level since August 2020, according to data from its finance ministry compiled by Reuters.
In January 2023, the price of Russia’s flagship Urals grade averaged 42% lower than in the same month of 2022, as its discount to Brent Crude grew wider following the EU embargo and the G7 price cap, which came into effect on December 5. The average price of Urals in January, at $49.48 per barrel, was 1.7 times lower than in January 2022, when it averaged $85.64 per barrel, Russia’s Finance Ministry said earlier this week. Russia calculates the export duty due to the budget based on the price of Urals. This has been reducing its revenues due to the wide discount of Urals to Brent, which has swelled to nearly $40 per barrel at times.

Brent Crude was trading at around $82 a barrel early on Friday, while Urals, per Reuters estimates, was at around $53.60 per barrel.

Russia is considering taxing its oil firms based on the price of Brent – instead of Urals – to limit the fallout on the Russian budget revenues due to the widening discount of Urals to Brent, Russian daily Kommersant reported on Friday, quoting sources.
Russia is looking at ways to reduce the steep discount on Urals and to stabilize its oil revenues. At the end of January, Russian President Vladimir Putin ordered the government to submit within a month proposals to change the methodology for calculating the taxes from oil, Kommersant’s sources said.

The EU oil ban and price cap are costing Russia an estimated $174 million (160 million euros) per day due to the fall in shipment volumes and prices for Russian oil, Finland-based Centre for Research on Energy and Clean Air (CREA) said in a report last month. The revenue losses are expected to rise to $304 million (280 million euros) per day with additional measures that are being implemented as of February 5, according to CREA.

Posted by IDQWE001 > 2023-03-26 07:27 | Report Abuse

For the Great Russia Empire dream, Putin killed others and eventually Russian including himself. Did his brother learn something form his mistake ? Trading and technology sanctions will not make a country collapse overnight but eventually will be gone.

Posted by IDQWE001 > 2023-03-26 07:37 | Report Abuse

Russian occupiers sell their property in Crimea and evacuate their families. Ukrainska Pravda
Sat, March 25, 2023 at 2:15 AM GMT+8

Andrii Yusov, spokesman for Ukraine’s Defence Intelligence, said that Russian occupation authorities in Crimea have started evacuating from the Ukrainian peninsula.

Source: Ukraine’s Defence Intelligence on Facebook, citing Andrii Yusov on Freedom TV channel

Details: The Defence Intelligence spokesman said that Russian authorities and officials from the Russian occupation administration in Crimea are rushing to sell their property and evacuate their families from the peninsula.

"Meanwhile, they tell the rank and file officials not to worry, that everything is fine and everything is under control… All this resembles the [Russians saying] that their ‘special operation’ is going according to the plan…" Yusov said.

Quote from Yusov: "Families linked to the Russians are being evacuated, and quite urgently. This is food for thought for everyone who tied their lives to Putin’s malicious ruscist regime. They better leave Crimea while they still can."

Details: The Defence Intelligence spokesman recalled that the day before, on 23 March, a message was broadcast on the radio in Sevastopol, Crimea, urging local residents – especially those who collaborated with the Russian occupation regime – to prepare to evacuate.

Quote from Yusov: "The peninsula has to be liberated and the legitimate Ukrainian government has to regain control over it in order for peace and order to reign there. Crimea has to return to Ukraine, and this will absolutely happen very soon. So everyone working for Russia would really do better if they leave the territory of Ukraine’s Crimea now."