Russia's Oil Export Revenues Fall to Lowest Level Since February 2022

Сергей Гармаш Economy
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According to information provided by Bloomberg, Russia's oil export revenues have fallen to their lowest level since February 2022. Last week, the revenue was around $959 million, which is $500 million less than in the first days of October.

Analysts attribute this decline to a sharp increase in discounts on Russian Urals oil, caused by sanctions. Previously, the discount to the Brent standard was in the range of 5-15 percent, but now it has reached about 50 percent.

The decrease in prices and revenues is observed against the backdrop of limited access to traditional markets and rising logistics costs.
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