Fri 05 Jun 2020
Clock 22:27, Damascus
Russia profits greatly from US oil sanctions

Russia profits greatly from US oil sanctions

الساعة 14:16 بتوقيت دمشق

According to a report from Bloomberg that was re-disseminated via the TASS news agency, Russia has profited considerably since the last months of 2018 amid draconian oil sanctions placed on various countries by the US.

According to Bloomberg, the demand for Russian oil that is sourced from the country's Ural Mountains region is at a historic peak, with Russia making additional profits between November 2018 to July 2019 in excess of 900 million dollars.

Bloomberg's report involved calculations which compensate for the price difference between Russian exported Urals oil and the Brent benchmark for exported oil during the eight-month period in question in comparison to the previous five year average.

TASS expanded to add in its own report that the biggest regional client for Russia's oil since sanctions against Iran and Venezuela (the main oil producing countries to be sanctioned by the US since November 2018 - beginning with Iran) is the Mediterranean.