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The Russian Ministry of Finance announced that tax revenues from oil and gas in January this year were down 46% compared to last year. In addition, there was a 59% increase in budget expenses due to the war effort. This combined produced a deficit of US$25 billion for the first month of this year alone. Maintaining this trend, Moscow would have docHubed a deficit of $300 billion by the end of 2023. The embargo on Russian petroleum products, which has been in place since February, adds yet another black cloud hanging over the Russian economy. In the long term, Moscow is threatened with the collapse of the entire oil sector, as the Russians are running out of deposits that are profitable to extract. All this comes at a time when Vladimir Putin is boasting of a surprisingly low decline in Russian GDP in 2022. So what is the truth? Lets break the whole thing down. The current dynamics of the Russian economy has turned out to be much better than many experts p
