₦airaland Forum

Russia made considerably less money than forecast from oil and gas sales in March, suggesting that the Kremlin underestimated the impact of the Ukraine war.

Revenue from oil and gas sales in March was 302 billion rubles ($3.6 billion), or 38%, lower than Russia's finance ministry forecast on March 3, according to data from the ministry, published Tuesday.

Russia is a leading oil supplier and the world's top gas exporter, and Europe typically gets about 40% of its natural gas from Russia. However, European and other Western nations have been switching away from Russian supplies in the wake of the Ukraine invasion.

Russia's finance ministry forecast on March 3 that the country would make around 790 billion rubles in revenue from oil and natural gas sales in March. The actual figure was closer to 488 billion rubles.

The finance ministry pointed to lower-than-expected natural gas exports in March and changes to energy tax rules.

It also said that in February, its oil and gas revenues were 216.4 billion rubles lower than expected. However, it said it expected to earn 798.4 billion rubles in additional revenue from energy sales in April.

President Joe Biden has pledged to ban Russian energy imports and the European Commission has said it could reduce EU demand for Russian gas by two-thirds before the end of the year, under a plan to diversify supplies. The US has offered to ship more liquefied natural gas to its allies to help squeeze Russian exports.

Over the weekend, Lithuania became the first EU country to completely cut off Russian gas imports, Dainius Kreivys, its energy minister, said.

In 2021, just over a quarter of Lithuania's gas supply came from Russia, according to Amber Grid, the country's pipeline operator. Kreivys said the country would plug the gap with liquefied natural gas imports from the US and Norway, Bloomberg reported.

Russian President Vladimir Putin has said that Russia is working on requiring "unfriendly countries" to pay for its gas in rubles, which European Commission President Ursula von der Leyen said would be a "clear breach of contract" and an attempt to circumvent sanctions imposed by the West.

Shortly after war broke out, Germany halted plans for the Nord Stream 2 pipeline, which is designed to carry gas between Russia and mainland Europe. On Monday, Germany said it had seized control of a local Gazprom unit.

Shell said earlier that it was pulling out from its joint ventures with Gazprom and related businesses while BP said it was dumping its 20% stake in the Russian state-backed oil firm Rosneft.

Western sanctions imposed on Russia could wipe out 15 years of economic growth in the country and send inflation skyrocketing.

Pierocash:
Mtcheeeew! They were making much noise about sanction like Russia won't even sell one barrel,yet the same US has increased their oil purchase from Russia and selling to EU for higher cost thereby using EU for arbitrage business. Russia is smiling to the bank,US is smiling to the bank ,while EU are shouting Sanction, sanction.


Who is losing, EU. Awon oponu

Ammishaddai:
I don't see Russia complaining. Death to the capitalist pigs who spread propaganda through their asses

Pierocash:
Mtcheeeew! They were making much noise about sanction like Russia won't even sell one barrel,yet the same US has increased their oil purchase from Russia and selling to EU for higher cost thereby using EU for arbitrage business. Russia is smiling to the bank,US is smiling to the bank ,while EU are shouting Sanction, sanction.


Who is losing, EU. Awon oponu

Ammishaddai:
Dont mind the fools . Russia has this mapped out . I just pity all those EU nations that will plunge their countries in despair all because of support Ukrainian cluelessness

sapientia:
Reading is one quality NL zombies lack

USA is ever ready to bail them out the ones who cant afford it

Germany, UK and France alone can sustain Europe

sapientia:
Putin Fan Bots can come and rant Western Propaganda

This is just in less than 2 months

To Europe, its no more about the money but curbing a necessary evil

The Era of holding Europe hostage because of gas and oil is fast approaching

If this can happen now with the price of oil, imagine when the price of oil goes down

Anyone believing Saudi will never play ball is a clown

In fact, the security of Saudi Arabia as a country is guaranteed by the USA

The problem Saudi have with USA right now is because of Iran nuclear deal

Saudi do not want Iran to even smell nuclear weapon

Ammishaddai:
[s][/s] The way you Nigerian pigs think is truly alarming and you always enjoy speaking through your asses. Just of recent, the US increased it's fuel prices from Russian crude, and is now selling it off to the EU exorbitant rates , and you dont see that the EU is being stupid ? Anyway, a fish like you can't see the big picture

Kingpin1000:
You can think for everybody
You even read the mind of everybody..
You fail to see is not all gloomy for Russia.
You fail to see the steady rise of Rouble.
You fail to see the drop in the American stock market.
Bro, don't be too emotional, international politics is played without morals.. if America had one,why increase importation.
They buy to sell to Europe. Germany and France can see the trick your likes fail to see. But pulling out will automatically turn them enemy to America and their puppets.

sapientia:
You are talking trash

The news said Russia projected what it will get for march via oil and gas sales

it fell short by a whooping $3billion

All these things you are vomiting is rubbish




You people are just so dumb

Imagine saying America the biggest producers will buy to sell to Europe

sapientia:
The news if from their finance minister

Though i don't expect a Zombie to know what is $3 billion



EU is not as poor as your country

They have the money to pay higher just to boycott Russia oil

Should funds becomes a problem, Big brother USA will come to the rescue

They did before after WW11 with marshall plan, they can do it again

The speed Ukraine will be repaired will shame some of you terrorists

Pierocash:
I don't quote scallywags and dimwit who holds briefs through myopic emotional frustrations and not with intellect. But however I have to respond to your balderdash to further expose your naivety of international politics.

The question is, what is the purpose of the sanction according to them? To cripple Russian Economy ofcourse. But is that been achieved? No ofcourse,rather t[b]hey are the ones suffering the sanctions with inflation hitting close to 50% i[/b]n the name of they are not poor. Who is foolish here? EU ofcourse.

How long can US bail them should this continue?

Awon arindin

Kingpin1000:
America biggest producers of what.
Or biggest consumers.
Na wa for CNN people o

sapientia:
You are talking trash

The news said Russia projected what it will get for march via oil and gas sales

it fell short by a whooping $3billion

All these things you are vomiting is rubbish




You people are just so dumb

Imagine saying America the biggest producers will buy to sell to Europe

sapientia:
[s]you are complete slowpoke and illiterate

you think throwing words around makes you smart

[/s]

sapientia:
You are talking trash

The news said Russia projected what it will get for march via oil and gas sales

it fell short by a whooping $3billion

All these things you are vomiting is rubbish




You people are just so dumb

Imagine saying America the biggest producers will buy to sell to Europe

RichMelanin:
I now understand some of your problems
You can’t read and understand

They made $3billion from sales
They were expecting more than that
Read the article again