Energy markets quickly absorbed the supply shocks of Western energy sanctions against Russian oil supplies. Russian exports are now approaching levels seen before sanctions were put on.

By conducting high levels of oil trade outside the US dollar and the SWIFT-related banks, and also through "shadow fleets" of tankers, Russian suppliers are now routinely selling over the price caps, and in markets that previously were wholly supplied by Middle East countries.

Resources and links:

India Top Refiner Resumes Trade on Russian Sovcomflot Ships
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Russia's Oil & Gas Revenues Surged By 73.5% In January-May

Russia’s Budget Is Getting Twice as Much Oil Money as a Year Ago
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Russia’s Oil Revenues Doubled in April Compared to a Year Earlier
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Russia’s Oil Revenue Surged 50% in May
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