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Apr 02, 2022 05:11 PM
WORLD

Putin May Collect $321 Billion Windfall If Oil and Gas Keep Flowing

A gas treatment unit at the Kasimovskoye underground gas storage facility, operated by Gazprom PJSC, in Kasimov, Russia, on Wednesday, Nov. 17, 2021. Russia signaled it has little appetite for increasing the natural gas it transits through other territories to Europe as the winter heating season gets underway. Photo: Bloomberg
A gas treatment unit at the Kasimovskoye underground gas storage facility, operated by Gazprom PJSC, in Kasimov, Russia, on Wednesday, Nov. 17, 2021. Russia signaled it has little appetite for increasing the natural gas it transits through other territories to Europe as the winter heating season gets underway. Photo: Bloomberg

(Bloomberg) --Russia’s economy has staggered through the first full month of the war with Ukraine but it may yet emerge with a sparkling balance sheet if some of its biggest trade partners don’t turn off the tap on its exports of energy.

For all the hardships visited on consumers at home and the financial chokehold put on the government from abroad, Bloomberg Economics expects Russia will earn nearly $321 billion from energy exports this year, an increase of more than a third from 2021. It’s also on track for a record current-account surplus that the Institute of International Finance says may reach as high as $240 billion.

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