Russia’s oil revenues collapse

Revenue from the sale of Russian crude oil abroad plummeted by 40.8 percent in 2020 compared to 2019, according to the Federal Customs Service.

Russian companies received $ 72.3 billion from oil sales, which amounted to 59.2 percent of the revenue of the previous year. In physical terms, 11.4 percent less raw materials were supplied abroad than in the previous year. The export of petroleum products in monetary terms fell by 32.3 percent (to $ 45.3 billion), and in physical terms – by 0.8 percent (to 141.7 million tons).

Revenues from coal exports last year fell by 22.5 percent (to $ 12.389 billion). Electricity supplies from the country decreased 1.65 times. Companies’ revenues from the sale of gasoline fell 23.7 percent. At the same time, the volume of its exports increased by 12.4 percent.

Earlier, residents of Khabarovsk, where there was a shortage of gasoline and diesel fuel, began to sell places in line at gas stations (gas stations). In addition, advertisements for the sale of fuel at a price almost double the market price appeared on the Internet. In mid-January, gasoline production in the region stopped due to technical problems. This led to a shortage of fuel.

/Media reports.