Despite severe Western sanctions levied against Russia since its war with Ukraine began Feb. 24, Russia is expected to earn nearly $321 billion from energy exports in 2022, an increase of more than a third over 2021, Bloomberg News reported. Moscow’s economy has survived a full month of sanctions and is emerging with a relatively strong balance sheet, as many of its strategic trading partners remain dependent on its energy exports, and the Institute of International Finance (IIF) said that Russia’s budget surplus may reach a record high of $240 billion. “The single biggest driver of Russia’s current account surplus continues to look solid,” said IIF economists in a March 31 report cited by Bloomberg News. “With current sanctions in place, substantial inflows of hard currency into Russia look set to continue.” The situation may change completely, however, in case of a full embargo on energy sales. The IIF said that …