Trade from under the ceiling: sanctions against oil have hit the Russian budget, but allow the accumulation of shadow reserves abroad
Russia's oil export revenues fell by almost half over the year, although volumes remained at approximately the same level. Along with the decline in world prices, sanctions made a certain contribution to this. But their effect could be more significant, because the price ceiling on Russian oil, in fact, never came into effect, according to a group of economists who studied supplies from the port of Kozmino in the Far East.