Russia benefits from energy exports despite sanctions

International Desk: European countries, including the United States, have imposed a series of sanctions on Russia's energy exports over the Ukraine war. However, just months after the sanctions were imposed, Russia's profits in the sector have risen further as global oil and gas prices have risen. U.S. officials say the rise in fuel prices has boosted the profits of Russian companies, despite a drop in supplies due to the war. Russia's currency, the ruble, is trading lower than the dollar. Meanwhile, Russian President Vladimir Putin says Western countries will not be able to stop importing Russian oil and gas in the next few years. As a result, Russian companies do not have to worry about oil and gas exports. European countries currently import 40% of their gas from Russia. So the United States is being forced to acknowledge that Russia's profits from the energy sector have risen sharply in the wake of the Ukraine war. Russia's military operation in Ukraine begins on February 24. After that, an alliance of European countries announced to reduce Russia's dependence on oil and gas. Europe will reduce its dependence on Russian oil by 90% in the coming years. However, they have not yet set any target for gas.