According to the International Energy Agency (IEA), Russia earned $18.5 billion from oil and gas exports in January, compared with $30 billion a year earlier, a 38 percent drop.
IEA pointed out that this means that Western energy sanctions against Russia are having an impact, especially the EU's oil embargo and the price ceiling limit of $60 per barrel for Russian crude oil.
Fatih Birol, head of the IEA, said that it is expected that in the next few months, Russia's revenue from oil and gas exports will decline further, and due to difficulties in obtaining technology and investment, the Russian energy industry may face greater difficulties in a longer period of time.
But at the same time, the IEA also pointed out that Russia still occupies a pivotal position in the global oil market, and its exports to the global market have declined only slightly. The decrease in income is mainly due to the fact that the current Russian oil price has dropped significantly compared to last January, and a large part of it is also due to the price ceiling mechanism implemented by Europe and the US.