After the resounding statements of the West, the opposite effect occurred with regard to Russia: during the year, what no one wanted happened

One of the reasons that led to the collapse of the Soviet Union is called the decision of the United States to limit the Soviets’ access to advanced technologies, as well as to reduce the prices of Soviet oil and gas. The West imposed similar and even tougher sanctions on Russia last year. But unlike the Soviet Union, today’s Russia is not falling apart because of sanctions.

“Probably for a simple reason – because the Russians have shown a pretty good ability to get away with this situation,” – LNK an associate professor of Vilnius University (VU) told the news Algirdas Bartkus.

Starting this year, the Russians are planning economic growth again, even higher than the economic decline last year, after the sanctions were announced.

“To a certain extent, one can agree that the Russians have indeed adapted. And not only in oil products, gas. But also in semiconductors”, said the Minister of Energy Dainius Kreivys.

Since last December, the West has imposed a price ceiling on Russian oil, Russia’s main source of income. And found that Western tankers cannot transport Russian oil if it costs more than 60 dollars.

Now, a year later, it is clear that the price ceiling does not work – the Russians sell their oil at the normal market price – more than 80 dollars.

“This cannot continue. Because 90 dollars per barrel is the price that satisfies the Russians. And they can continue to finance the war in this way”, emphasized D. Kreivys.

Publication “Financial Times“announces that the supply of Russian oil has increased by 50 percent this year.

“Anyway, that oil and gas sector used to make up about 80 percent of Russia’s gross domestic product (GDP). Even now, it makes up about 80 percent of GDP”, A. Bartkus provided the figure to LNK.

The Russians simply started transporting their oil on tankers from Western countries, so the price restrictions set by the West are not relevant.

“They have tried to offer all these services relatively cheaply. Which is why India has not refused this service. Also, other countries: Turkey, China have just as successfully supplied themselves with Russian oil”, VU docent A. Bartkus emphasized.

China is now building gigantic oil and gas storage facilities, and the Russians have been helped by Saudi Arabia’s decision to cut oil production. As a result, the price of all the oil in the world has increased.

Even European countries continue to pay the Russians by buying fuel from Russian oil. Although buying directly is prohibited.

“A huge amount of Russian oil goes to India, the oil is processed there and the products in the form of diesel fuel are also sold in Europe,” explained Minister of Energy D. Kreivys.

Europe also seems ambiguous about Russian gas. Last year there were many resounding statements when The European Union (EU) decided to live without gas, which Gazprom supplied by pipelines. Now, Russian gas goes to Europe by ship. Half of all Russian liquefied gas is bought by the EU, the main terminals are in Spain, Belgium, and France.

“Gas can come from the United States, Qatar, everywhere else, which would fully satisfy this need. But no, Russian is taken. Because Russia agreed to supply that gas after some increases, with some discounts”, said the Minister of Energy D. Kreivys.

In August, China bought almost half of all Russian natural resources, India – 24 percent, Turkey – 17 percent, and the fourth largest buyer is the EU, which bought 11 percent of all Russian fossil fuels.

According to VU docent A. Bartkaus, Western sanctions may even have the opposite effect – the Russians will adapt to living without the West.

“They have regained all that they had lost within a year. And it seems that even after the growth, which will already be somehow adapted to the new reality, when connections and ties with the entire Western world will be minimized as much as possible”, thought LNK news interviewer A. Bartkus.

According to him, the sanctions have caused a lot of problems for the Russians, but they still make a profit from their raw materials. Just not as much as they used to earn selling to Europe.

See the full LNK news report here: