Russia Expects $9.6-Billion Windfall From High Oil Prices In April

Russia expects to earn additional oil and gas revenues of the equivalent of $9.6 billion (798.4 billion Russian rubles) this month, its finance ministry said on Tuesday. Despite the self-sanctioning of many European buyers of Russian oil, Moscow continues to export its oil, and Europe continues to pay for and import Russian natural gas. While the U.S. banned imports of all Russian energy exports, including oil, liquefied natural gas (LNG), and coal, the European Union hasn’t had the luxury to do so, because it depends on Russian oil for around…