JUST

2024

April

<p>Despite US sanctions, Russia defies forecasts and exhibits even stronger economic health in 2024. Against all odds, the BRICS co-founder reports in April a 100% annual increase in its oil and gas revenues. From 7 billion dollars the previous year, its turnover on oil and gas jumps to 14 billion dollars in April 2024. The Russian case now represents an excellent precedent for the BRICS in their march against the dollar.</p>
<h2 id="h-ukraine-is-just-a-pretext-russia-is-at-war-with-the-usa">Ukraine is just a pretext: Russia is at war with the USA</h2>
<p>For more than two years, Russia has revealed to the world how to <a href="https://www.cointribune.com/en/brics-imf-announces-strong-economic-growth-for-russia/" target="_blank" rel="noopener noreferrer nofollow">grow an economy without the USA and without the dollar</a>. The BRICS and their partners have proven that it’s possible to progress amid a diplomatic conflict with the USA.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Indeed, <a href="https://watcher.guru/news/brics-russia-gains-14-billion-oil-revenue-despite-us-sanctions" target="_blank" rel="noopener noreferrer nofollow">according to a Reuters report</a>, Russian oil revenues climbed from 7 to 14 billion dollars from April 2023 to April 2024, a growth of 100%. Similarly, for the entire year of 2024, Russia has planned oil and gas revenues of 123 billion dollars, an annual growth of 30%.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">JUST IN: <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1f7-1f1fa.png" alt="🇷🇺" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Russia says it now has the right to confiscate all Western assets in Russia, worth more than $288 billion. <a href="https://t.co/Te0zxgSMCZ" rel="noopener noreferrer nofollow">pic.twitter.com/Te0zxgSMCZ</a></p>— BRICS News (@BRICSinfo) <a href="https://twitter.com/BRICSinfo/status/1783589971007332760?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 25, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://go.primexbt.com/click?pid=8658&amp;offer_id=12&amp;l=1594368336" target="_blank" rel="noopener noreferrer nofollow">Start trading Bitcoin with PRIME XBT</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<h2 id="h-the-brics-weaken-the-global-order-and-accelerate-their-ascent-to-the-throne">The BRICS weaken the global order and accelerate their ascent to the throne</h2>
<p>Since 2022, global trade dynamics have changed. Saudi Arabia buys cheaper oil from Russia and circulates it almost throughout Europe. Russia’s pricing policy has also attracted India, which has saved 7 billion dollars by purchasing Russian oil thanks to exchange rates.</p>
<p>As for China, it continues to procure vast amounts of Russian oil, which it pays for in yuan. More than a dozen other developing countries are also sourcing from Russia and settling their purchases with their local currencies rather than the US dollar. This strengthens their local currencies as a result.</p>
<p>Thus, more than two years after the start of the Russo-Ukrainian saga, Russia continues to thrive economically. The dollar, on the other hand, is faring less well, and the USA has seen its debt rise above 34.6 trillion dollars.</p>
<p>Meanwhile, the BRICS have experienced faster expansion than ever before. It’s clear that the war between Russia and Ukraine is just a pretext. Russia is clearly at war against the USA, <a href="https://www.cointribune.com/en/brics-the-dollar-loses-ground-in-russia-in-favor-of-the-chinese-yuan/" target="_blank" rel="noopener noreferrer nofollow">a war that pits the BRICS against the USA and their dollar</a>. Will this tug-of-war ever end?</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://join.swissborg.com/r/frederEZU5" target="_blank" rel="noopener noreferrer nofollow">Buy your first cryptocurrencies with Swissborg</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>

BRICS: Russia’s Oil and Gas Revenues Soaring Despite Sanctions

Table of Contents

Cointribune EN

Other articles published on May 2, 2024

From Launchpad to Global Impact: Coinstore’s Odyssey in Shaping the Crypto Landscape

May Day

Ethereum Price Falls Despite Growing Interest

Build on Bitcoin (BOB) Launches Mainnet for Bitcoin DeFi

Creator of rabbit AI assistant has hidden NFT past

LayerZero Labs Announces First Snapshot for Potential AirDrop

Join our free newsletter for daily crypto updates!