Ukraine foresees a reduction of 50% in Russia’s oil-derived income: Vlasyuk assessed the prospective harm from embargoes at $5 billion monthly.
Owing to penalties directed at Rosneft and Lukoil, Russia might forfeit upwards of half of its crude dispatches to India and China. Financially, this equates to fifty percent of its earnings from petroleum.
This information was conveyed by Vladislav Vlasyuk, the Ukrainian President's Representative for Sanctions Matters, on the “We are Ukraine” broadcast.
He underscored that the United States and the United Kingdom both enforced penalties on Rosneft and Lukoil. Concurrently, the European Union solely applies restrictions to Rosneft, given that certain EU member states still depend on Lukoil.
“This ostensibly indicates a deficit of roughly $100 billion (dollars – ed.) annually. We anticipate that, assuming sanction limitations are appropriately executed, Russia will shed a minimum of 60-70% of its crude exports to India and China,” Vlasyuk mentioned.
He further stated that, in this instance, it would result in a revenue reduction of no less than $5 billion each month.
“This is difficult, this is a considerable amount. As a point of reference, Russia presently gains around $10 billion per month. Meaning, half of its oil-based income is eliminated solely due to the restrictions imposed on two oil firms,” finished the Ukrainian presidential envoy for sanctions strategy.
