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Energy exports are also a vital source of government revenue, with the sale of petroleum products and natural gas contributing 45% to Russia’s federal budget in 2021, the year prior to Putin’s ...
President Vladimir Putin considers the Syrian civil war to be a good platform for advertisement of the capabilities of Russian weapons capable of boosting Russia's military sales. [4] [5] Russia accounted for 22% of global arms sales in 2013–17, [6] that figure dropped to 16% in 2018–22 (SIPRI's statistics).
However, by April 2023, global oil and gas prices decreased, and the decline was due to multiple factors, including declining demand in Europe and Asia, "unseasonably warm" weather in the Northern Hemisphere. [166] The price of oil reached a peak of more than $120 per barrel in June 2022, and declined to below $80 per barrel in April 2023. [166]
The appointment suggests that Putin wants not only to boost the military-industrial complex in a technological arms race against Ukraine and the West, but also to harness the wider economy more ...
On 10 October 2022 Russia attacked the power grid throughout Ukraine, including the in Kyiv, with a wave of 84 cruise missiles and 24 suicide drones. [ 8 ] Further waves struck Ukrainian infrastructure, killing and injuring many, and seriously affecting energy distribution across Ukraine and neighboring countries.
President Vladimir Putin on Friday cited positive data points to laud Russia's economic health and said surging defence spending was needed to boost national security, as Moscow grapples with the ...
Russia is a major player in global energy markets. It is one of the world's top three crude oil producers, vying for the top spot with Saudi Arabia and the United States. In 2021, Russian crude and condensate output reached 10.5 million barrels per day (barrels per day), making up 14% of the world's total supply.
Russia's Defense Ministry said Monday that the military would hold drills involving tactical nuclear weapons — the first time such an exercise has been publicly announced by Moscow. A look at ...