How Russia Is Surviving the Tightening Grip on Its Oil Revenue

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Using customs data from India, Mr. Vakulenko, the Russian oil expert, showed that local importers of Russian crude paid almost the same price as Brent crude. A New York Times analysis of the same data produced similar results.The explanation, Mr. Vakulenko suggested, is that at least part of the large discount on the quoted Urals price had been pocketed by Russian exporters and intermediaries, who then charged a higher price to the buyers in India.This revenue will not accrue directly to the Russian government in taxes, said Tatiana Mitrova, a Russian oil expert at the Center on Global Energy Policy at Columbia University. But because the Russian exporters probably have close ties to the Kremlin, some of money might still support the war effort, she said.“It’s a complete black box of funds,” she said.Experts …

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