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Rising oil and gas prices: is Russia the real loser?

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Russian rouble recovery in April

Despite the unprecedented sanctions against Russia by the West, as of 20 April, the Russian currency, rouble, has strengthened significantly defying the international isolation. The revenue from oil and gas, meanwhile, in 2022 is going to be much more than what was in 2021 as well.

Since the EU now says that paying for Russian oil and gas in rouble does not violate the doctrine of sanctions - after all - the losers are going to be humble consumers who pay through their nose for oil and gas due to rising energy prices and struggle to make ends meet due to high inflation that goes through the roof.

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