INSUBCONTINENT EXCLUSIVE:
Its oil exports have proved more resilient, however, and now account for 60% of the country's fossil fuel revenues.Western attempts to go
after Moscow's oil revenues by denying services to all trades involving Russian oil at more than $60 a barrel have not dramatically
analyst Sergei Vakulenko, have suggested that Russia could actually be selling oil to China or India for more than the estimated Urals price
the EU has not imposed an outright ban onRussiangas deliveries, further restrictions such as an LNG price capare being touted by analysts as
discounts to its new oil customers in Asia, who had gained new market power as Russia's main customers after the partial European embargo
according to a May report by India's Financial Express, discounts on Russian oil compared to global price declined to 8% in the period of
export revenue for Russia for the whole of 2023 compared to a situation with no restrictions
on the shadow fleet and losses at over $11 billion as of November 2023
The sum included $2.3 billion in expenses on the tanker fleet and another $9 billion on alternative insurance arrangements for vessels in
hurdles.For example,Novatek, Russia's largest LNG producer, faced repeated problems with the construction of its Arctic LNG 2 plant due to
total of 53 vessels linked to transporting Russian oil have been sanctioned by the West between October 2023 and July 2024,Bloomberg
Western countries designate only about 10-20 every few months, while Russia's shadow fleet can number up to 1,500 or even 2,000 ships,
Russia declaring war on NATO or vice versa, agrees Voloshin, adding that freedom of commercial navigation through the Danish Straits is
longer resemble a blitz of novel measures, but a progressive refinement of the current gradual "middle ground" approach to limiting Russia's
goal, imposing additional costs on the Kremlin and chipping away at its market power is still realistic in the long term if there is a
political will for a more patient approach.
