Very interesting article! 👍

The combination of lower oil prices and the oil price cap has done relatively little to dent Russia’s overall export earnings from selling goods to the rest of the world, which were $420 billion in 2019, $425 billion in 2023, $434 billion in 2024, and about $413 billion in 2025.

This is a huge surprise to me if true, I tried to check the numbers, and I couldn't find anything to show them wrong, on the contrary the numbers I can find seem to confirm this?This is very strange since we hear all sorts of Russian exports are collapsing. First and foremost oil, which is now worth half what it was 4 years ago, natural gas to EU is at most a fourth, and was considered a major source of income for Russia, but also I've heard coal to China has declined steeply, and of course their weapons export is almost halted as they need the weapons themselves.

Those are all major export sectors, so how can it be possible for Russia to maintain stable export numbers?