The price of Russian oil has reached its lowest level since a full-scale war
Фото: Reuters
Russian oil prices have fallen to their lowest level since Russia’s full-scale invasion of Ukraine.
This was reported by the Bloomberg news agency.
As noted, sanctions imposed by the West are increasing oil discounts, and futures for benchmark oil grades are falling.
Currently, a barrel of oil that Russia exports from the Baltic and Black Seas and the port of Kozmino costs an average of just over $40 — 28% less than over the past three months.
The sharp drop in raw material prices was influenced by recent restrictions against Rosneft and Lukoil.
Western pressure is making it difficult to sell and export oil, as are sanctions targeting the pipelines of major buyers such as India.
As Bloomberg points out, the funds the Kremlin receives from oil and gas sales are crucial for waging the war in Ukraine. And lower revenues create an additional burden on the country’s refineries and reduce taxes that go to the budget.
It was previously reported that Kazakhstan has sharply tightened export controls and has actually blocked some of Russia’s channels for receiving goods that have fallen under Western sanctions.
As is known, Russia’s oil export revenues in November fell to their lowest level since the full-scale invasion of Ukraine in 2022.
As a reminder, US President Donald Trump has decided to impose a 50% tariff on Indian goods imported into the United States. Such actions are aimed at putting pressure on New Delhi because India continues to buy Russian oil, which, according to Trump, the Kremlin is using to finance the war against Ukraine.
By the way, about 48 million barrels of Russian oil could be stuck at sea for a long time due to new US sanctions against Rosneft and Lukoil . Due to the restrictions, dozens of tankers are changing routes and looking for new buyers, especially after Indian refineries began to sharply reduce purchases.
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