Russia's oil and gas revenue plunged 40% in January as western sanctions take a toll, IEA says
"Our expectation is that this oil and gas revenue decline will be steeper in the next months to come. And even more steep in the mid-term, as a result of the lack of access to technology and investment," IEA chief Fatih Birol told Reuters on Tuesday.
Russia has been battered by sanctions over the last year, since its invasion against Ukraine led to a barrage of trade restrictions from western nations and European customersNow, Russia is struggling to hand off its energy supplies after its crude and oil products have been shunned by European customers.
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