russia earned $2 billion over three months thanks to US sanctions exemptions

This is according to S&P Global.

Exemptions from US sanctions on russian oil were in place from 12 March to 17 June. From the outset, these licences were viewed as a temporary measure to ease tensions in the energy markets.

In May, russia exported an average of 6 million barrels of crude oil per day, compared with 5.6 million barrels in April, 5.5 million in March and 4.9 million in February.

It is noted that even if the US does not extend the exemption for July, russia will continue to use various schemes to circumvent sanctions, as well as redirect its oil exports to Asia, albeit at significant discounts.

Source: Ekonomichna Pravda