U.S. estimates Russia’s profits from sanctions easing

He expressed the view that easing oil sanctions helps reduce Russia’s revenues, as this move stabilizes global oil prices, thereby limiting Moscow’s potential earnings, CBS News reports.

According to him, Russia’s new revenues amount to $2 billion, which is equivalent to one day of its budget.

"The question is, which is better? Will Russia get more money if oil is $150 and they get 70% of that—that is, $105—or if oil stays below $100? In other words, they get less money. Our analysis shows that the maximum additional amount Russia could receive is $2 billion, which is equal to one day of the Russian Federation’s budget,” Bessent said.

He stated that China remains the main export channel for Russian oil, purchasing more than 90%.

Photo: slovoidilo.ua.