[DaedPsyker]

That appears to show that the volume has returned but not its price.

"The revenue is still down 43% from a year ago, the IEA said, as Russia is forced to sell its barrels to a more limited pool of customers who can negotiate greater discounts."

[yogthos]

That doesn't actually follow. Had the west not got into a sanctions war with Russia, then they might've never increased their output. The end result is that the profits have not been affected. More importantly, what actually counts is the relative damage. It's pretty clear that EU economy has been affected far more severely than Russian economy. IMF projects Russia to actually have growth this year, while there is a recession projected across EU states.

[The_Colonel]

> IMF projects Russia to actually have growth this year, while there is a recession projected across EU states.

IMF bases their projection on data provided by Russian government agencies. So this works only if you trust Russian government to not fumble data.

[yogthos]

I guess we'll see won't we. However, it's pretty obvious that Russia is doing massive amounts of trade with China and India. Trade between China and Russia has already reached over 200 billion this year. So, not really sure what this notion that Russian economy is collapsing is based on to be honest.

[The_Colonel]

> However, it's pretty obvious that Russia is doing massive amounts of trade with China and India.

For sure India and China are eager to exploit the very unequal relationship where Russia now needs India and China much more than the opposite.

The Russian economy is not collapsing, but I'm pretty sure it's hurting. Even if we had real GDP figures, they'd be misleading as now a significant part of the GDP is coming from production of military gear which is literally being burned and does not generate income or feed into other parts of the economy.

[yogthos]

This is just wild speculation that's completely baseless I'm afraid. We've literally been hearing this story for nearly two years now, and there is zero substantive evidence to support any of these assertions.

[The_Colonel]

It's just basic economics. India and China have a bigger leverage, it would be stupid of them to not use it.

I mean, what's the alternative explanation of why India increased the Russian oil imports tenfold? It's not because of good will, it's because India can suddenly import Russian oil much cheaper than before. Why does Russia sell oil cheaper to India? Because it won't find another such big customer.