22.01.2020, 08:54
U.S. Sanctions Help Russia Boost Oil Exports in 2019
Source: OREANDA-NEWS
OREANDA-NEWS. The Ministry of Economic Development, analyzing the picture of Russia's foreign trade in 2019, pointed out a noteworthy fact: American sanctions against countries such as Iran and Venezuela helped Russia increase physical oil exports in 2019.
According to customs statistics for January – November 2019, Russian crude oil exports increased by 3.8% in kind. Procurement from Turkey and the United States itself made a significant contribution to its growth, precisely because of sanctions against Iran and Venezuela, the Ministry of Economic Development commented on the balance of payments received by the Russian media.
According to the FCS, analyzed by the Russian media, in January – November 2019, oil supplies to Turkey increased to 7.55 million tons from 1.69 million tons a year earlier. In value terms, exports grew slightly more slowly due to lower oil prices - from $ 0.84 billion to $ 3.41 billion. The average price of Russian Urals oil in 2019 decreased by 8.8%, to $ 63.8 per barrel.
Physical supplies to the United States grew 3.1 times - from 1.38 million tons to 4.28 million tons. In value terms, oil exports to America increased from $ 0.74 billion to $ 1.95 billion. Russia also delivered in January – November US $ 3.8 billion worth of petroleum products
According to customs statistics for January – November 2019, Russian crude oil exports increased by 3.8% in kind. Procurement from Turkey and the United States itself made a significant contribution to its growth, precisely because of sanctions against Iran and Venezuela, the Ministry of Economic Development commented on the balance of payments received by the Russian media.
According to the FCS, analyzed by the Russian media, in January – November 2019, oil supplies to Turkey increased to 7.55 million tons from 1.69 million tons a year earlier. In value terms, exports grew slightly more slowly due to lower oil prices - from $ 0.84 billion to $ 3.41 billion. The average price of Russian Urals oil in 2019 decreased by 8.8%, to $ 63.8 per barrel.
Physical supplies to the United States grew 3.1 times - from 1.38 million tons to 4.28 million tons. In value terms, oil exports to America increased from $ 0.74 billion to $ 1.95 billion. Russia also delivered in January – November US $ 3.8 billion worth of petroleum products
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