Russian pro-Kremlin media has a grudge against Western rating agencies. The Big Three, including S&P Global Ratings (S&P), Moody's, and Fitch Group, are all headquartered in the US. No wonder, Russian federal media always finds an excuse to slam the top-notch think tanks with internationally recognized experts for their biased approach and unfair ranking.
Oddly enough, a new survey by Standard & Poor's instantly inspired Moscow to drop the previous label and define the analytical group as a reputable agency.
In the survey, analysts draw the conclusion that the US economy heavily depends on Russian crude oil. Only first-class specialists are able to deliver such a verdict. Interestingly, when writing about Russia’s low sovereign credit rating, the same Standard & Poor's immediately becomes a dubious agency dancing to Washington’s tune.
Referring to the survey that deserves praise from the Kremlin, Russian energy companies have delivered the biggest volume of crude oil in a decade to the US this year. According to the US Energy Information Administration, Russian oil imports increased to a record 8% of the overall imported oil in January 2021. Moreover, analysts at Standard & Poor's point out that Russian petroleum supplies exceed those from Saudi Arabia, the key US ally. The US imported 648K bpd of Russian crude and petroleum products in January 2021.
