miketheterrible wrote:the article actually said:
The value of oil reserves reached some 71.7 percent of Russia’s GDP in 2018.
Which means that not the oil sales is 71.7% of GDP but that the reserves are that amount.
Which is also nonsense since that oil is far more valuable and there are significantly more reserves in the arctic portion of Russia.
Also add in, Russia is giving away its oil for paper. Its a rather bad scheme Russia got itself into. Instead, it should trade based upon assets and other material.
My quote above was taken directly from the website. Either they revised the line or you got it from another part of the
article. I stopped reading after reaching the text I quoted.
I agree Russia should sell oil for gold at the very least. American fiat will vapourize in the near future.