NEW YORK, June 1. /TASS/. Russia's average daily income from oil and gas exports by the end of the year could reach about $800 mln, Bloomberg wrote on Wednesday.
The agency notes that Western sanctions were aimed at hitting Russia’s "war machine," but that machine "still is very much operational."
Russia also exports other resources needed on the world market such as food and metals.
"Even with some countries halting or phasing out energy purchases, Russia's oil-and-gas revenue will be about $285 billion this year, according to estimates from Bloomberg Economics based on Economy Ministry projections. That would exceed the 2021 figure by more than one-fifth. Throw in other commodities, and it more than makes up for the $300 billion in foreign reserves frozen as part of the sanctions," the agency noted.
Bloomberg argues that Russia can face a recession in the future, but it can "ignore this damage for now," because its coffers are "overflowing with the revenue from commodities, which have become more lucrative than ever thanks to the surge in global prices" driven in part by the conflict in Ukraine.